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  • Problems On Stock Valuation

    Uploaded by

    Purva Chaudhari
    10 views2 pages
    The document provides details of receipts and issues of materials in a factory during January. It lists the opening balance, various receipts and issues on different dates along with the rates. It asks to prepare the stores ledger entries assuming FIFO and weighted average as the pricing systems. It also provides another set of details for the month of March 2020 regarding material issues and purchases on different dates along with rates. It asks to prepare the stores ledger entries assuming FIFO and perpetual inventory system. It further provides details of material receipts and issues for the month of December 2019 and asks to prepare the stores ledger using weighted average price method and FIFO.

    Original Description:

    Original Title

    PROBLEMS ON STOCK VALUATION

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    The document provides details of receipts and issues of materials in a factory during January. It lists the opening balance, various receipts and issues on different dates along with the rates. It asks to prepare the stores ledger entries assuming FIFO and weighted average as the pricing systems. It also provides another set of details for the month of March 2020 regarding material issues and purchases on different dates along with rates. It asks to prepare the stores ledger entries assuming FIFO and perpetual inventory system. It further provides details of material receipts and issues for the month of December 2019 and asks to prepare the stores ledger using weighted average price method and FIFO.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    10 views2 pages

    Problems On Stock Valuation

    Uploaded by

    Purva Chaudhari
    The document provides details of receipts and issues of materials in a factory during January. It lists the opening balance, various receipts and issues on different dates along with the rates. It asks to prepare the stores ledger entries assuming FIFO and weighted average as the pricing systems. It also provides another set of details for the month of March 2020 regarding material issues and purchases on different dates along with rates. It asks to prepare the stores ledger entries assuming FIFO and perpetual inventory system. It further provides details of material receipts and issues for the month of December 2019 and asks to prepare the stores ledger using weighted average price method and FIFO.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    PROBLEMSONSTOCKVALUATI

    ON
    Q.1.
    .Thef
    oll
    owingisasummaryofther
    eceipt
    sandissueofmat
    eri
    alsi
    naf
    act
    orydur
    ingJanuar
    y:
    1 Openingbal
    ance500uni
    ts@ Rs.
    25perunit
    3 I
    ssue70uni
    ts
    4 I
    ssues100uni
    ts
    8 I
    ssues80uni
    ts
    13 Recei
    vedf
    rom suppl
    i
    ers200uni
    ts@ Rs.24peruni
    t
    14 Ret
    urnedt
    ost
    ores15uni
    ts@ Rs.24peruni
    t
    16 I
    ssue180uni
    ts
    20 Recei
    ved240uni
    ts@ Rs.24.
    75peruni
    t
    24 I
    ssues304uni
    ts
    25 Recei
    ved320uni
    ts@ Rs.24peruni
    t
    26 I
    ssue112uni
    ts
    27 Ret
    urnst
    ost
    ore12uni
    ts@ Rs.
    24.
    50peruni
    t
    28 Recei
    ved100uni
    ts@ Rs.
    25peruni
    t
    Showthest
    oresl
    edgerent
    ri
    esassumingFIFO&Wei
    ghtedaver
    ageastheprici
    ngsy em.On15th
    st
    ther
    ewasashort
    ageof5units.Agai
    nther
    ewasashor
    tageof8uni
    tson27thJanuar
    y.

    Q.2.Foll
    owingdet ai
    lsaregi
    venofacer t
    ainmat er
    ialforthemonthofMar ch2020:
    March1: Openi ngstock200kg@ Rs.460perkg.
    March4: issuet oJobA-140kg.
    March6: pur chase350kg.@ Rs.450perkg.
    March8: condemnedduet odeteri
    orat
    ioninquali
    ty&t ransfer
    redtoscrap-30kg.
    March9 : i
    ssuet oJobB-80kg.
    March14:i ssuetoJobC–210kg.
    March17: purchase200kg@ Rs.480perkg.
    March20: i
    ssuet oJobD–120kg.
    March25: purchase180kg.@ Rs.470perkg.
    March28: i
    ssueJobE-280kg
    March31: excessfoundinstock–43kg, reasontracedt ot
    heuseofwr ongmeasureduringthe
    mont h.
    Showt hest oresl
    edgerentr
    iesassumingFIFO&Per petuali
    nvent
    orysystem asthepri
    cingsystem.

    Q.
    3.From thef
    oll
    owingpart
    icular
    s,pr
    eparest
    orel
    edgerf
    ort
    hemonthofDecember2019,
    showi
    ng
    mater
    ial
    issuepri
    ceontheWei ghtedAver
    agePri
    ceMethod&FIFO.
    DATE PARTICULARS UNI
    TS RATEPERUNIT
    1/
    12/
    19 Recei
    ptsofmat
    eri
    al 500 2
    1/
    12/
    19 I
    ssueofmat
    eri
    al 400
    10/
    12/
    19 Recei
    ptofmat
    eri
    al 400 3
    15/
    12/
    19 I
    ssueofmat
    eri
    al 300
    18/
    12/
    19 Recei
    ptsofmat
    eri
    al 400 4
    22/
    12/
    19 I
    ssueofmat
    eri
    al 200
    29/
    12/
    19 Recei
    ptofmat
    eri
    al 280 5
    30/
    12/
    19 Ret
    urnof10uni
    ts(i
    ssuedon
    15/
    12/19
    31/
    12/
    19 I
    ssueofmat
    eri
    al 375
    5uni
    tsl
    osswasr
    eveal
    edon27/
    12/
    19dur
    ingst
    ockv
    eri
    fi
    cat
    ion.

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