Question

1. Mr. Ahmed joined in Al-Suroor Edibles LLC as a Cost Accounting trainee, you are working as a store manager in the company, needs to train him on how the store’s ledger is prepared, and the company follows FIFO method for its stock recording process. Train Mr. Ahmed based on the below available transactions for March 2020.

Date	Particulars	Units	Rate per unit (OMR)
1st March	Opening stock	200	2
5th March	Purchases	100	2.2
10th March	Purchases	150	2.4
20th March	Purchases	180	2.5
2nd March	Issues	150
7th March	Issues	100
12th March	Issues	100
30th March	Issues	200

Answer 1