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The following is the summary of the receipts and issues of materials in a factory during February: 1 February Opening stock 500 kg Rs 25 00 3 issued 70 kg 4 issued 100 kg 8 issued 80 kg

The following is the summary of the receipts and issues of materials in a factory during February:

1 February

Opening stock

500 kg

Rs 25.00

3

issued

70 kg

 

4

issued

100 kg

 

8

issued

80 kg

 

13

Received from suppliers

200 kg

Rs 24.75

14

Refund of surplus a work order

15 kg

Rs 24.00

16

issued

180 kg

 

20

Received from suppliers

240 kg

Rs 24.75

24

issued

304 kg

 

25

Received from suppliers

320 kg

Rs 24.00

26

issued

112 kg

 

27

Refund of surplus a work order

12 kg

Rs 24.50

28

Received from suppliers

100 kg

Rs 25.00

Issues are to be priced on the principle of FIFO. The stock verifier of the factory noticed that on 15 February there was a shortage of 5 kg and on 27 February there was another shortage of 8 kg. Write the stores ledger account, recording the aforementioned transactions.

Jun 24 2020 View more View Less

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