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Unit 5: Methods of Valuing Material Issues
10. With the half of the following information, prepare the stores ledger account based on the Notes
weighted average method of pricing issues:
March 1 Opening Balance 24,000 kg. @ ` 7,500 per tonne.
’’ 1 Purchase 44,000 kg. @ ` 7,600 per tonne.
’’ 1 Issue 1,000 kg.
’’ 5 Issue 16,000 kg.
’’ 12 Issue 24,000 kg.
Answers: Self Assessment
1. True 2. True
3. True 4. False
5. True 6. False
7. True 8. False
9. True 10. False
11. True 12. HIFO method
13. same rate 14. NIFO
15. Market Price
5.11 Further Readings
Books Arora M. N., Cost and Management Accounting, Himalaya Publishing House,
2010.
Pandey, IM, Management Accounting, Excel Book, New Delhi, 2007.
Richard G. Schroeder, Myrtle W. Clark, Myrtle W. Clark, Jack M. Cathey,
Financial Accounting Theory and Analysis: Text Readings and Cases, John Wiley &
Sons Inc.
Shah Paresh, Management Accounting, Oxford University Press, New Delhi, 2009.
Online links www.futureaccountant.com
www.managementstudyguide.com
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