MATERIAL CONTROL 11/1-49 .. Following transactions occur in the purchase and issue of a material : Jan. Purchased 4,000 units @ 4.00 per unit Jan. 20 Purchased 500 units @ 5.00 per unit Feb. 5 Issued 2,000 units Feb. 10 Purchased 6,000 units @ F 6.00 per unit 4 Feb. 12 Issued 4,000 units March 2 Issued 1,000 units March Issued 2,000 units March 15 Purchased 4,500 units @ F 5.50 per unit March 20 Issued 3,000 units. From the above, prepare the store ledger account. (a) by adopting FIFO method of charging material issued, and (b) by adopting the LIFO method. What would be the value of stock in hand at the end of the period according to each of these two methods ? Ans. [Value of Stock in hand : (a) ( 16,500 Le. 3,000 units @ $ 5.50 per unit, (b) $ 14,250 Le. 1,500 units @ 5.50 per unit + 1,500 units @