Prepare Store Ledger Card (SLC) form the following information on Jan 2017: 1. Opening Stock...
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Prepare Store Ledger Card (SLC) form the following information on Jan 2017: 1. Opening Stock .........................400 units @ Rs. 30 ..... Rs. 12,000 2. Purchases.... ...200 units @ Rs. 28.. ..Rs. 5,600 15. Sales ........ ..........125 units @ ........ 21. Purchases ..... ............80 units @ Rs. 25... ...Rs. 2,000 27. Purchase ....... .....100 units @ Rs. 32... ...Rs. 3,200 29. Sales .......... .....175 units @ ... 30. Sales ................... ..............140 units @ ..... Required Determine the Cost of Sales, cost of Closing Stock and Gross profit under each of the following method by using perpetual inventory system Using FIFO and LIFO Each unit sold for $35 is
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