Reference no: EM133003274
Question - The following transactions relates to the business of Kitengela Limited.
May 2 Balance b/f 1,000 units at Shs. 25 per unit
May 5 Issued 400 units
May 7 Received 1,000 units at Shs. 27 per unit
May 11 Issued 500 units
May 14 Issued 800 units
May 19 Received 1,700 units at Shs. 30 per unit
May 23 Received 1,000 units at Shs. 32 per unit
May 25 Issued 600 units
May 27 Issued 700 units
May 29 Issued 900 units
An order has been placed for 2,000 units at Shs. 35 per unit. Returns inwards amounted to Shs. 6,000 and returns outwards Shs. 4,000. Carriage inwards were Shs. 3,000. All sales were made at a standard price of Kshs. 40 per unit.
Required - Record the above transactions in the stock ledger under:-
(i) Weighted Average method
(ii) Trading account based WAV method
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