1) The stock in hand of a material as on 1stSeptember , 2009, was 500 units at Re.

1 per
unit. Following purchases and issues were subsequently made. Prepare the store ledger
account showing how the value of the issues would be recorded under (a) FIFO and (b)
LIFO Methods.
Purchased Issues
September 6 100 units at Rs. 1.10 September 9 500 units
“ 20 700 “ “ 1.20 “ 22 500 “
“ 27 400 “ “ 1.30 “ 30 500 “
October 13 1,000 “ “ 1.40 October 15 500 “
“ 20 500 “ “ 1.50 “ 22 500 “
November 17 400 “ 1.60 November 11 500 “
2) From the following details prepare a stores ledger using FIFO pricing method for material Y.
Opening balance of November 1st,2009 : 1000 units at Rs.2 per unit. Purchases for the month
were:
400 units at Rs.1.25 (6-11-2009) Issued during the month:
600 units at Rs. 1.50 (15-11-2009) 1400 units (8-11-2009)
800 units at Rs. 1.65 (23-11-2009) 400 units (16-11-2009)
800 units (24-11-2009)
On physical verification it was found that there is a shortage of 10 tons on 20th November 5 units
issued on 16th November were returned by the department.

3) Adarsh company purchased and issued the materials in the following order:
Units Units Cost
January 1st Purchases 300 3.00
5th Purchases 600 4.00
10th Issue 500 -
12th Purchases 700 4.00
15th Issue 800 -
20th Purchases 300 5.00
30th Issue 100 -
Ascertain the quantity of closing stock as on 31st January and state its value under each of the
following methods of pricing the issue: (a) Weighted average cost, (b) FIFO (c) LIFO.

4) With the help of the following information, prepare the store ledger card based on the
weighted average method of pricing issues:
Sept 1 Opening balance 24,000 kgs @ Rs.7.500 per tonne.
1 Purchases 44,000 kgs @ Rs. 7,600 per tonne.
1 Issue 10,000 kgs
5 Issue 16,000 kgs
12 Issue 24,000 kgs
13 Purchases 10,000 kgs @ Rs.7,800 per tonne.
18 Issue 24,000 kgs
22 Purchases 50,000 kgs @Rs. 8000 per tonnes
28 Issue 30,000 kgs
30 Issues 22,000 kgs

5) Following transactions occurs in the purchases and issue of a material:

January 19 Purchases 100 @ Rs. 5.00each
February 4 Purchases 25 @ Rs. 5.25each
12 Purchases 50 @ Rs. 5.50 each
 14 Issued 80
March 6 Purchases 50 @ Rs. 5.50 each
20 Issued 80
27 Purchased 50 @ Rs. 5.75 each
Complete the stock account showing the balance on March 3, the end of the accounting year.
State clearly your method of pricing the issue why this method has been adopted and the price
and value of the closing stock.

6) From the following particulars, prepare stores ledger account under Simple Average Method.
Jan 5 Purchased 4000 units at Rs. 4 per unit
20 Purchased 500 units at Rs. 5 per unit
Feb 5 Issued 2000 units
10 Purchased 6000 units at Rs.6 per unit
15 Issued 4000 units
18 Issued 1000 units
March 4 Issued 2000 units
12 Purchased 4500 units at Rs. 5.50 per unit
24 Issued 2000 units

7) On 1st March, 2010 twelve tonnes of a materials was in store valued @ Rs.140 per tonne. On
3rd march, 2010, fifteen tonnes of more materials was received @ Rs. 150 per tonne. On 5th
march 2010 twenty tonnes of material was issued.
Calculate the price of the issue if the issues of materials is priced according to:
I. FIFO II. LIFO III. Simple average method IV. Weighted average method.

8) The standard price of material is fixed at Rs. 12 per unit. Following purchases and issues
were made during march 2010. Prepare the Stores ledger account showing how the cost of
materials issued and value of balance in stock will be recorded under the standard price
method.
Dated Particulars Quality in Units Rate
March 3 Received 1,800 12
8 Received 500 14
15 Issued 1,000 -
21 Received 600 11
24 Issued 700 -
28 Received 900 13
30 Issued 850 -
Also ascertain the efficiency of purchasing material