Raw material purchased:
1^st January, 600 units @ Rs. 12 per unit
12^th January, 500 units @ Rs. 14 per unit
21^st January, 300 units @ Rs. 13 per unit
Raw material issued for manufacture:
3^rd January 300 units
5^th January 124 units
15^th January 250 units
16^th January 300 units
Raw material returned to stores from manufacturing department on 14^th January, 50 units. The material is issued on First-in-First out method.
The value of material remaining in store on 21^st January will be: