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Summary of the receipts and issues of material

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The following is the summary of the receipts and issues of material in a factory during December 2007. Prepare Store Ledger according to First in First Out Method. December 2007 1. Opening balance 500 units @ Rs.25 per unit 3. Issue 70 units 4. Issue 100 units 8. Issue 80 units 13. Received from supplier 200 units @ Rs.24.50 per unit 14. Returned to store 15 units @ Rs.24 per unit 16. Issue 180 units. 20. Received from supplier 240 units @ Rs.24.75 per unit 24. Issue 304 units. 25. Received from supplier 320 units @ Rs.24.50 per unit 26. Issue 112 units 27. Returned to store 12 units @ Rs.24.50 per unit 28. Received from supplier 100 units @ Rs.25 per unit It was revealed that on 15th there was a shortage of five units and another on 27th of 8 units.

Reference no: EM13954842

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