Question No. 2:(6 marks)

During First week of September 2010, Tri star football manufacturers worked on two orders for production of export quality of footballs. A synthetic leather codes as ML-9 was used for the production. Opening Balance September 1^st is 145 sq. feet at Rs.20 per sq. feet

Sept. 2^nd Received 100 sq. feet at Rs. 2200, Sept. 3^rd 120 sq. feet issued. Sept. 4^th Received 200 sq. feet @ Rs. 24. Sept. 5^th Returned to storeroom (treat as oldest issue) 10 sq. feet. Sept. 6^th issued 210 sq. feet. Sept. 7^th 10 sq. feet returned to storeroom.

Requirements: Prepare store Ledger card by using LIFO, FIFO and ACM method also Calculate Cost of goods sold under each method while Direct Labor Cost is Rs. 6000 and FOH is 20% above from Direct Labor.