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A ledger card is a post accounting record in stores now differentiate it with a Bin...

A ledger card is a post accounting record in stores now differentiate it with a Bin card. 10marks

This is managing store and inventory question and kindly add referncences .

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Answer #1
Ledger Card Bin Card
This is used to keep the record of the various inventory movements. The Bin Card is used in order to maintain and keep the record of receipt & the various issues of stocks by the company.
The Ledger Card will maintain the record of all the movements of the inventory in the form of the rate, the quantity, and the value and also will keep the balance for the materials The Bin will keep the Quantity Record and will be in the form of receipts & BOM ( Balances of Materials)
The Ledger Card is handled by the Cost and Accounts Department The BIN Card is maintained by the Store-Keeper
The entries of the transactions in case of the ledger card are made in a periodic manner. The entires or the transactions are made in that moment itself in case of Bin Card i.e immediate entries are made.
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