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Receipts Issues Balance
Date Particulars Qty. Rate Amount Qty. Rate Amount Qty. Rate Amount
Or Units Rs. P. Rs. Units Rs. P. Rs. Units Rs. P. Rs.
Reference
1998
(B) Last in first out method (LIFO)
Jan. 1 Balance
B/d 1,000 26.00 26,000
5 G.R.N. No. 500 24.50 12,250 1,000 26.00 26,000
500 24.50 12,250
7 M.R. No. 750 26.00 19,500 250 26.00 6,500
500 24.50 12,250
10 G.R.N. No 1,500 24.00 36,000 250 26.00 6,500
500 24.50 12,250
1,500 24.00 36,000
250 26.00 6,500
500 24.50 12,250
350 24.00 8,400 1,150 24.00 27,600
12 M.R. No 1,100
15 G.R.N. No 1,000 25.00 25,000 1,150 24.00 27,600
1,000 25.00 25,000
17 M.R. No. 500 24.00 12,000 650 24.00 15,600
1,000 25.00 25,000
18 M.R. No. 300 24.00 7,200 350 24.00 8,400
1,000 25.00 25,000
25 G.R.N. No. 1,500 26.00 39,000 350 24.00 8,400
1,000 25.00 25,000
1,500 26.00 39,000
29 M.R. No. 1,500 26.00 39,000 750 26.00 19,500
400 24.00 9,600
200 25.00 5,000
Closing Stock = 1,350 units, valued at Rs. 34,100 (750×26+400×24+200×25)
Note : G.R.N. No. = Goods Received Note Number; M.R. No. = Material Requisition Number.
Working Capital Management 175