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Prepare stores Ledger Accounts -Under different methods of ISSUE

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Date-Mar 07DetailsUnits @ Rs /unit.Replacement PriceStandard Price

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1Opening Stock400 units @ Rs 30 each29

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5Purchased1100 units @Rs 25 each29

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7Issued500 units @ 2929

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9Purchased200 units @ 31 each29

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10Issued600 units 3029

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14Issued600 units 2629

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23Purchased300 units @ 2929

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25Issued200 units3129

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31Issued50 units 2829

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01/04/07Purchased100 Units @ 30

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A)Assume that at the time of issue the next order has been placed and the next order

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relates to the next purchase.

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-This information will be useful for NIFO method.

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Prepare only for March 2007

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B)Also while doing Specific identification method Assume that for Job 115 the following order has been

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Received and issued

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Date-Mar 07DetailsUnits @ Rs /unit.

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6Purchased300@29

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24Issued300units.

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Also use FIFO Mehtod of issue for specific identification.

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C) Assume that out of the opening stock 100 units is base stock for Base stock method.

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Use base stock with FIFO.