Prepare stores ledger account using the (a) simple average method and (b) weighted average method. 1 answer below »

The following transactions occur in the purchase and issue of a material:

2 January

Purchased

4,000 units at Rs 4.00 per unit

20

Purchased

500 units at Rs 5.00 per unit

5 February

Issued

2,000 units

10

Purchased

6,000 units at Rs 6.00 per unit

12

Issued

4,000 units

2 March

Issued

1,000 units

5

Issued

2,000 units

15

Purchased

4,500 units at Rs 5.50 per unit

20

Issued

3,000 units

Prepare stores ledger account using the (a) simple average method and (b) weighted average method.