Kind Gestures Company is a leading producer of Akohia Soap in the Eastern Region of Ghana. The following information relate to a component part used in manufacturing Akohia Soap for the period ended 31st August, 2020. Stock on hand at January 1, 2020 Purchases made during the period; January March May July Issues made during the period; February April June August Units Total Cost (GH¢) 2,000 100,000 4,000 200,000 3,000 180,000 8,000 640,000 2,000 200,000 5,000 1,000 1,800 2,500 a. Usingthefirst-in-first-outmethod,preparetheStoreLedgerAccountfortheperiod ended 31st August, 2020. b. 4 (four) importance of Cost Accounting to your programme of study.
Kind Gestures Company is a leading producer of Akohia Soap in the Eastern Region of Ghana. The following information relate to a component part used in manufacturing Akohia Soap for the period ended 31st August, 2020. Stock on hand at January 1, 2020 Purchases made during the period; January March May July Issues made during the period; February April June August Units Total Cost (GH¢) 2,000 100,000 4,000 200,000 3,000 180,000 8,000 640,000 2,000 200,000 5,000 1,000 1,800 2,500 a. Usingthefirst-in-first-outmethod,preparetheStoreLedgerAccountfortheperiod ended 31st August, 2020. b. 4 (four) importance of Cost Accounting to your programme of study.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Kind Gestures Company is a leading producer of Akohia Soap in the Eastern Region of Ghana. The following information relate to a component part used in manufacturing Akohia Soap for the period ended 31st August, 2020.
Stock on hand at January 1, 2020 Purchases made during the period; January
March
May
July
Issues made during the period; February
April
June
August
Units Total Cost (GH¢) 2,000 100,000
4,000 200,000 3,000 180,000 8,000 640,000 2,000 200,000
5,000 1,000 1,800 2,500
a. Usingthefirst-in-first-outmethod,preparetheStoreLedgerAccountfortheperiod ended 31st August, 2020.
b. 4 (four) importance of Cost Accounting to your programme of study.
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