1. Pippin Ltd is planning to prepare its monthly financial statements, so it asked the store keeper to find out the closing stock for one of its products. Assume that the storekeeper asked for your assistance. The business is using the AVCO method.

Record the following details on an item of stock for the month of September.

	Units	Cost per unit
Opening stock	500	8BD
2 September issue	300	8
6 September - receipt	400	9BD
12 September -issue	220	8.67
16 September -issue	200	8.67
22 September -receipt	600	9.5BD
27 September - issue	340	9.31

STORES LEDGER RECORD (AVCO)
Date	Receipts			Issues			Balance
	Quantity	Cost BD	Total Cost BD	Quantity	Cost BD	Total Cost BD	Quantity	Cost BD	Total Cost BD
							500	8	4000
2 sep				300 200	8 8	2400COGS 1600
6sep	400 600	9 8.67	3600 5200
12sep	220 380	8.67 8.67
16sep
22sep
27sep