Por Tugal Sdn Bhd is a manufacturing company. It holds stocks of various materials in its storeroom and keeps proper stock records.

The following are the stock movements for Material EURO for the month of July 2014:

Units Price per unit RM

1. Stock at 1 July 100 2.00

2. Purchases during July

3 July 200 2.10

10 July 300 2.20

24 July 300 2.30

3. Issues during July

5 July 150

12 July 350

26 July 200

Required:

(a) Prepare a store ledger card for the month of July 2014, using each of the following methods:

(i) First In First Out (FIFO)

(ii) Last In First Out (LIFO)

(iii) Weighted average cost (AVCO)

(a) Gross profit statement (Selling price is RM 8 per unit