PRACTICE QUESTION 11 The stock of material held on 1-4-2018 was 400 units @ 50 per unit. The following receipts and issues were recorded: 2-4-2018 Purchased 100 units @ OMR55 per unit 6-4-2018 Issued 400 units 10-4-2018 Purchased 600 units @ OMR55 per unit 13-4-2018 Issued 400 units 20-4-2018 Purchased 500 units @ OMR65 per unit. 25-4-2018 Issued 600 units You are required to prepare the Stores Ledger Account, showing how the values of issues would be calculated under: a) FIFO method b) Weighted Average method 40 PRACTICE QUESTION Using the following information pertaining to material D, prepare a statement showing the pricing of issues, on the basis of: (a) FIFO method, and (b) Weighted Average method 2018 March 1 Purchased 100 units @ 10 each 2 Purchased 200 units @ OMR 10.2 each 5 Issued 250 units to Job X vide M.R.No. 12 7 Purchased 200 units @ OMR 10.50 each 10 Purchased 300 units @ OMR 10.80 each 13 Issued 200 units to Job Y vide M.R. No. 15 18 Issued 200 units to Job Z vide M.R.No. 17 20 Purchased 100 units @ OMR 11 each 25 Issued 150 units to Job K vide M.R.No. 25