Q#

Wadood Manufacturing Co. uses perpetual inventory system while recording their inventory. They incurred the following transactions during past month;

Date	Transactions
Jan 07	Purchased 6 machines for a unit cost of Rs.500 each from their supplier
Jan 12	Purchased 10 machines for a unit cost of Rs.800 each from their supplier
Jan 19	Sold 12 machines to a customer for sales price of 1200 each

Required: (10)

Prepare the inventory subsidiary ledger for above transactions using the following:

1. Average cost method
2. Specific identification method ( 05 machines were sold from the jan 07 purchase and the remaining 07 machines were sold from the Jan 12 purchase).