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Task 3 Prepare a Stores Ledger Account for the month of January2021 under: 1. LIFO Method. 2. FIFO 3. Simple Average Price Method. Receipts dated

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Task 3 Prepare a Stores Ledger Account for the month of January2021 under: 1. LIFO Method. 2. FIFO 3. Simple Average Price Method. Receipts dated Quantity Price Issues dated Quantity 1-1-2021 800 units 25 per unit 3-1-2021 1,000 units 19-1-2021 1,000 units 23 'per unit 11-1-2021 800 units 31-1-2021 400 units 21 per unit 23-1-2021 600 units 25-1-2021 200 units 31-1-2021 200 units On 1st January, 2021, opening stock was 1,250 units at OMR 27 per unit. (Note: It is assumed materials were issued after materials were received.]

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