NAHZATUL SHIMA BINTI ABU SAHID

2012467956
Week 6 – store ledger card
Pricing issues

BabyBoom Berhad is an organic baby food manufacturer in Malaysia. One of the main ingredients for the baby
food is green apple that the company imports from New Zealand. The following transactions occurred in the
month of March 2017:

March 1 Balance from the previous month of 45 boxes worth RM2,655.

5 Purchased 50 boxes at RM62 per box.

11 Issued 35 boxes to production department.

15 Purchased 40 boxes at RM65 per box.

19 Purchased 25 boxes at RM64 per box.

23 Issued 50 boxes to production department.

24 Returned from production department 5 boxes at the latest issue price.

27 Returned to supplier 10 boxes of apples bought on the 5th of March.

31 Physical stock-taking showed a balance of 65 boxes were in the store.

Required:

Prepare a Store Ledger Card for the month of March 2017, using Last-In-First-Out (LIFO) method.
Last-In-First-Out (LIFO) method

DATE PURCHASES ISSUED BALANCE

Amt Rate Amt Rate Amt

Mac Qty Rate (RM) Qty Qty
(RM) (RM) (RM) (RM) (RM)

1 Opening Balance 45 59 2,655

5 50 62 3,100 45 59 2,655
50 62 3,100

11 35 62 2,170 45 59 2,655
15 62 930

15 40 65 2,600 45 59 2,655
15 62 930
40 65 2,600

19 25 64 1,600 45 59 2,655
15 62 930
40 65 2,600
25 64 1,600

23 25 64 1,600 45 59 2,655
25 65 1,625 15 62 930
15 65 975

24 5 64 320 45 59 2,655
15 62 930
15 65 975
5 64 320

27 10 62 620 45 59 2,655
5 62 310
15 65 975
5 64 320

31 STOCK LOSS 5 64 320 45 59 2,655

5 62 310
15 65 975

65 3,940