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from the following particular prepare store ledger for the month of January 2016 showing materil issue prices on the weighted average price method .
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from the following particular prepare store ledger for the month of Ja...
I'm sorry, but I cannot generate a store ledger here as it requires specific data and calculations. However, I can provide you with an example format for a store ledger and explain the concept of weighted average price method.
A store ledger is a record that tracks the inflow and outflow of materials in a store or warehouse. It includes details such as the date of receipt, date of issue, quantity received, quantity issued, unit price, and total value.
Here is an example format for a store ledger:
| Date | Particulars | Receipt (Qty) | Receipt (Unit Price) | Receipt (Total Value) | Issue (Qty) | Issue (Unit Price) | Issue (Total Value) | Balance (Qty) | Balance (Total Value) |
|------------|-----------------|--------------|---------------------|-----------------------|--------------|--------------------|---------------------|---------------|-----------------------|
| 01/01/2016 | Opening Balance | - | - | - | - | - | - | - | - |
| 05/01/2016 | Material A | 100 | $5 | $500 | - | - | - | 100 | $500 |
| 10/01/2016 | Material B | 50 | $10 | $500 | - | - | - | 50 | $500 |
| 15/01/2016 | Material A | - | - | - | 80 | $5 | $400 | 20 | $100 |
| 20/01/2016 | Material C | 200 | $3 | $600 | - | - | - | 200 | $600 |
| 25/01/2016 | Material B | - | - | - | 30 | $10 | $300 | 20 | $200 |
| 31/01/2016 | Closing Balance | - | - | - | - | - | - | 200 | $900 |
In the above example, the opening balance represents the quantity and total value of materials in stock at the beginning of January 2016. Receipts indicate the quantity received and their respective unit prices, while the total value is calculated by multiplying the quantity received by the unit price. Issues represent the quantity issued and their respective unit prices, with the total value calculated accordingly. The balance indicates the remaining quantity and its total value after each receipt and issue.
Weighted average price method calculates the average cost of materials by considering the quantity received and their respective unit prices. It is calculated by dividing the total value of materials in stock by the total quantity in stock. This method provides a more accurate cost determination when prices fluctuate over time.
Please note that the example store ledger provided is for illustrative purposes only. The actual store ledger should be tailored to your specific requirements and include all relevant details for accurate tracking of materials.
A store ledger is a record that tracks the inflow and outflow of materials in a store or warehouse. It includes details such as the date of receipt, date of issue, quantity received, quantity issued, unit price, and total value.
Here is an example format for a store ledger:
| Date | Particulars | Receipt (Qty) | Receipt (Unit Price) | Receipt (Total Value) | Issue (Qty) | Issue (Unit Price) | Issue (Total Value) | Balance (Qty) | Balance (Total Value) |
|------------|-----------------|--------------|---------------------|-----------------------|--------------|--------------------|---------------------|---------------|-----------------------|
| 01/01/2016 | Opening Balance | - | - | - | - | - | - | - | - |
| 05/01/2016 | Material A | 100 | $5 | $500 | - | - | - | 100 | $500 |
| 10/01/2016 | Material B | 50 | $10 | $500 | - | - | - | 50 | $500 |
| 15/01/2016 | Material A | - | - | - | 80 | $5 | $400 | 20 | $100 |
| 20/01/2016 | Material C | 200 | $3 | $600 | - | - | - | 200 | $600 |
| 25/01/2016 | Material B | - | - | - | 30 | $10 | $300 | 20 | $200 |
| 31/01/2016 | Closing Balance | - | - | - | - | - | - | 200 | $900 |
In the above example, the opening balance represents the quantity and total value of materials in stock at the beginning of January 2016. Receipts indicate the quantity received and their respective unit prices, while the total value is calculated by multiplying the quantity received by the unit price. Issues represent the quantity issued and their respective unit prices, with the total value calculated accordingly. The balance indicates the remaining quantity and its total value after each receipt and issue.
Weighted average price method calculates the average cost of materials by considering the quantity received and their respective unit prices. It is calculated by dividing the total value of materials in stock by the total quantity in stock. This method provides a more accurate cost determination when prices fluctuate over time.
Please note that the example store ledger provided is for illustrative purposes only. The actual store ledger should be tailored to your specific requirements and include all relevant details for accurate tracking of materials.
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from the following particular prepare store ledger for the month of January 2016 showing materil issue prices on the weighted average price method . Related: Difference b/w Cost & Financial Accounting - Introduction to Cost Accounting, Cost Accounting?
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