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Store Ledger Card provided the following information for July: Date quantity cost per item 1 50 2000 2 100 2500 9 50 2800 18 125

Store Ledger Card provided the following information for July:

Date

quantity

cost per item

1

50

2000

2

100

2500

9

50

2800

18

125

3000 (sales transaction)

20

85

3200

22

100

3400

27

150

2900 (sales transaction)


Determine the Cost of Sales, Cost of Closing Stock, Sales and Gross profit / loss under each of the following method by using perpetual inventory system, Cost are assigned on the basis of FIFO and Cost are assigned on the basis of Weighted Average.

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