2023 The following information relates to item Q002 stocked by Mutaka products Ltd for | Assignments Online
2023 The following information relates to item Q002 stocked by Mutaka products Ltd for | Assignments Online
Assignments Online 2023 Business Finance
The following information relates to item Q002 stocked by Mutaka products Ltd for the month of April 2004:
Receipts
Issues
Date
Units
Units
Unit cost (Sh)
April3
2,400
20
4
3,200
6
2,600
18
12
2,700
22
2,600
21
25
2,800
26
3,100
23
28
3,200
27
29
4,900
The closing balance for March 2004 was a batch of 2,900 units received at a unit price of Sh 21.
Required:
- Stores perpetual inventory record for item Q002 for April 2004 under LIFO and FIFO systems of stores issues. (10) marks)
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