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the following transactions in respect of material y occurred during the six months e 625767

The following transactions in respect of Material Y occurred during the six months ended 30th June 2007.

Month

Purchased [Units]

Price Per Unit Rs.

Issued [Units]

January

200

25

Nil

February

300

24

250

March

425

26

300

April

475

23

550

May

500

25

800

June

600

20

400

Required: The Chief Accountant argues that the value of closing stock remains the same, no matter which method of pricing of material issues is used. Do you agree? Why or why not? Detailed Stores Ledgers are not required.

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