Prepare a store ledger accounts from the following transactions under the following

i) FIFO Method

ii) LIFO Method

iii) Weighted average cost

Determine the value of closing stock and cost of materials to be channeled to production

Jan 1 - Received 1000 units @ 1.00/- per unit

10- Received 260 units @ 1.05/- per unit

20 - Issued 200units

Feb 4 - Received 400 units @ 1.15/- per unit

21 - Received 300 units @ 1.25-/ per unit

Mar 16 - Issued 620 units

18 - Returned 200 units to the store by user department being part of issues of 16th March

Apr 12 - Issued 240 units

May 10 - Received 500 units @ 1.10/-

15 - A shortage of 10 units was registered being part of items received on 10th May

25 - Issued 380 units.