Formulas: Maximum Level Maximum stock level = Re-order level + Re-ordering quantity

 
Question 8 
From the following you are required to prepare a statement showing the issues made under 
FIFO method: 
Date Opening Balance 100 units at Tshs10 each 
1 Received 200 units at Tshs10.50 each 
2 Received 300 units at Tshs10.60 each 
4 Issued 400 units to Job A vide MR No. 3 
6 Issued 120 units to Job B vide MR No. 4 
7 Received 400 units at Tshs11 each 
10 Issued 200 units to Job C vide MR No. 5 
12 Received 300 units at Tshs11.40 each 
13 Received 200 units at Tshs11.50 each 
15 Issued 400 units to Job D vide MR No. 6 
Question 9 
Prepare a statement showing the pricing of issues, on the basis of Weighted Average Methods 
from the following information pertaining to material ‘X’. 
Date 
1 Purchased 100 units @ Tshs10.00 each. 
2 Purchased 200 units @ Tshs10.20 each. 
5 Issued 250 units to Job A vide MR No. 1 
7 Purchased 300 units @ Tshs10.50 each 
10 Purchased 200 units @ Tshs10.80 each 
13 Issued 200 units to Job B vide MR No. 2 
18 Issued 200 units to Job C vide MR No. 3 
20 Purchased 100 units @ Tshs11.00 each. 
25 Issued 150 units to Job D vide MR No. 4. 
Question 10 
The stock of material in hand on 1st April, 2013 was 400 units at Tshs50 per unit. The 
following receipts and issues were recorded. Prepare a Stores Ledger Account under ‘Base 
Stock Method’ both by adopting FIFO and AVCO Methods, Base stock being 100 units. 
Date 
2 April Purchased 100 units @ Tshs55 each 
6 April Issued 400 units 
10 April Purchased 600 units @ Tshs60 each 

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13 April Issued 500 units 
20 April Purchased 500 units @ Tshs65 each 
25 April Issued 600 units 
10 May Purchased 800 units @ Tshs70 each 
12 May Issued 500 units 
13 May Issued 200 units 
15 May Purchased 500 units @ Tshs75 each 
12 June Issued 400 units 
15 June Purchased 300 units @ Tshs80 each.