8) Mohsen Steel Ltd maintains its stores ledger on the FIFO. Following is a summary of the receipts and issues of raw materials during the month of May 2019: May 2019 01 Opening balance 300 units @...

8) Mohsen Steel Ltd maintains its stores ledger on the FIFO.<br>Following is a summary of the receipts and issues of raw<br>materials during the month of May 2019:<br>May 2019<br>01<br>Opening balance 300 units @ Rs. 15 per unit<br>Material issue , 100 units.<br>Material purchase, 400 units @ 25 per unit.<br>Material issues, 500 units.<br>Material requested form suppliers , 300 units<br>Material purchase 200 units @ 29 per unit.<br>Material issues , 150 units.<br>Material purchase, 170 units @ 33 per unit.<br>Material issue, 200 units.<br>Material in hand 100 units.<br>06<br>08<br>13<br>15<br>22<br>25<br>27<br>29<br>31<br>Requirements:<br>1. Calculate Cost of goods issues?<br>2. Calculate Value of closing stock?<br>

Extracted text: 8) Mohsen Steel Ltd maintains its stores ledger on the FIFO. Following is a summary of the receipts and issues of raw materials during the month of May 2019: May 2019 01 Opening balance 300 units @ Rs. 15 per unit Material issue , 100 units. Material purchase, 400 units @ 25 per unit. Material issues, 500 units. Material requested form suppliers , 300 units Material purchase 200 units @ 29 per unit. Material issues , 150 units. Material purchase, 170 units @ 33 per unit. Material issue, 200 units. Material in hand 100 units. 06 08 13 15 22 25 27 29 31 Requirements: 1. Calculate Cost of goods issues? 2. Calculate Value of closing stock?

Jun 11, 2022

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8) Mohsen Steel Ltd maintains its stores ledger on the FIFO. Following is a summary of the receipts and issues of raw materials during the month of May 2019: May 2019 01 Opening balance 300 units @...

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