Question
Prepare the Stock Ledger using Weighed Average method of valuing the issues from the following details of stores receipts and issues of material in a
Prepare the Stock Ledger using Weighed Average method of valuing the issues from the following details of stores receipts and issues of material in a manufacturing unit:
TABLE BELOW
Nov. 1 Opening Stock 2,000 units @ Rs. 5 each
Nov. 3 Issued 1,500 units to Production.
Nov. 4 Received 4,500 units @ Rs. 6.00 each.
Nov. 8 Issued 1,600 units to Production
Nov. 9 Returned to stores 100 units by Production Department (from the issues
of November 3)
Nov. 16 Received 2,400 units @ Rs. 6.50 each.
Nov. 19 Returned to the supplier 200 unit out of the quantity received on
November, 4
Nov. 20 Received 1,000 units @ Rs. 7.00 each.
Nov. 24 Issued to Production 2,100 units.
Nov. 27 Received 1,200 units @ Rs. 7.50 each
Nov. 29 Issued to Production 2,800 units (use rates upto two decimal places).
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