Q$1.$ From the following details of store receipts and issues of material "Tibet" in a manufacturing unit,

prepare the store ledger using Last in first out $($FIFO$)$ method of valuing the issue and calculate the value

of stock as on March $31,2022.$

Stock on January $1,2022$ was $6,000$ units at $12$ each. From the following details of store receipts and issues of material $$Tibet$$ in a manufacturing unit,

prepare the store ledger using Last in first out $($FIFO$)$ method of valuing the issue and calculate the value

of stock as on March $31,2022.$

$5-$Jan $2,000$ units purchased @ $13$ each

$11-$Jan Issued $3,000$ units to production

$1-$Feb $2,500$ units purchased @ $14$ each

$17-$Feb Issued $3,400$ units to production

$16-$Feb Issued $2,000$ units to production

$7-$Mar $2,000$ units purchased @ $15$ each

$18-$Mar $2,500$ units purchased @ $16$ each

$28-$Mar $3,000$ units issued to production

Stock on January $1,2022$ was $6,000$ units at $12$ each.