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    Khushi Mehta
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    The document is a stores ledger account that tracks the receipts and issues of inventory items over time. It records the date, quantity, rate and amount of items received into and issued out of inventory. The closing stock balance at the end of the period includes 50 pieces at a rate of $2, 30 pieces at $2.4, and 80 pieces at an unknown rate, for a total valuation of $172 using the LIFO costing method.

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    The document is a stores ledger account that tracks the receipts and issues of inventory items over time. It records the date, quantity, rate and amount of items received into and issued out of inventory. The closing stock balance at the end of the period includes 50 pieces at a rate of $2, 30 pieces at $2.4, and 80 pieces at an unknown rate, for a total valuation of $172 using the LIFO costing method.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    13 views2 pages

    CA Assignment

    Uploaded by

    Khushi Mehta
    The document is a stores ledger account that tracks the receipts and issues of inventory items over time. It records the date, quantity, rate and amount of items received into and issued out of inventory. The closing stock balance at the end of the period includes 50 pieces at a rate of $2, 30 pieces at $2.4, and 80 pieces at an unknown rate, for a total valuation of $172 using the LIFO costing method.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 2

    STORES LEDGER ACCOUNT

    RECEIPTS ISSUES
    DATE QUANTITY RATE AMOUNT QUANTITY RATE
    1 Jan

    2 Jan 150 2

    5 Jan 100 2.2 220

    7 Jan 100 2.2

    10 Jan 150 2.4 360

    12 Jan 100 2.4

    20 Jan 180 2.5 450

    28 Jan 180 2.5


    20 2.4
    Closing Stock 50 pieces @2 100
    30pieces @2.4 72
    80 pieces 172
    LIFO
    RES LEDGER ACCOUNT

    BALANCE
    AMOUNT QUANTITY RATE AMOUNT
    200 2 400

    300 50 2 100

    50 2 100
    100 2.2 220

    220 50 2 100

    50 2 100
    150 2.4 360

    240 50 2 100
    50 2.4 120

    50 2 100
    50 2.4 120
    180 2.5 450

    450 50 2 100
    48 30 2.4 72

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