Stores ledger records material movements in:
AQuantity and value both
BValue only
CQuantity only
DStandard cost only
Answer & Solution
Correct answer: A. Quantity and value both
1. The stores ledger is maintained by the cost accounting department.
2. It records both quantities and rupee values for each item.
3. This dual record permits cost computation as well as reconciliation with the bin card.
4. Hence the stores ledger captures quantity and value together.
_Source: ICAI BoS Inter Paper 3, Ch 2 "Material Cost", §2.6 ¶1_
Related questions
Annual usage 5,000 units; ordering cost ₹40; carrying cost 20 percent of price ₹20. OptimaMaximum stock level formula is:EOQ when discount is offered changes when:Abnormal loss in material processing is:VED analysis classifies stores items based on:Carrying cost ₹6/unit, ordering cost ₹120/order, annual demand 18,000 units. EOQ equals:Weighted average price after receipts of 100 units at ₹10 and 200 units at ₹13 is:Under LIFO, opening stock 100 units at ₹20, purchase 200 at ₹25, issue 250 units. Value of