COST ACCOUNTING-STORES LEDGER ACCOUNT-II (LIFO)

COST ACCOUNTING

STORES LEDGER ACCOUNT-II

Dr.C.L.Jeba Melvin, M.Com.,M.B.A.,M.Phil.,Ph.D.

[PRICING OF MATERIALS ISSUE] - STORES LEDGER ACCOUNT - LAST IN FIRST OUT METHOD (LIFO) with solved problem: - 

It is a ledger account in order to maintain inventory of goods. It consists of details regarding receipts (purchases) and issues (supply for production or sales). By balancing this account we get to know the inventory in hand as on a particular date. Cost accounting department is maintaining this stores ledger account. Last-In-First-Out is an inventory valuation method which assumes that the last items placed in inventory are the first sold during an accounting year. 

This episode consists of Stores ledger account (LIFO) 

problem with solution. This video is useful 

for the BBA/BBM/BCom students.

Dr.C.L.Jeba Melvin, M.Com.,M.B.A.,M.Phil.,Ph.D

Associate Professor & Head of Research Centre

Department of Management Studies

Nesamony Memorial Christian College

Marthandam - 629165, Kanyakumari District

Tamil Nadu, INDIA

E.Mail: jebamelwyn@gmail.com

     

BRIEF PROFILE

Jeba Melvin C.L holds Ph.D in Financial Service Marketing, MBA in Finance and also holds post graduation in Commerce. He is currently serving as Associate Professor and Head of Research Centre for the Management Studies at Nesamony Memorial Christian College, Marthandam. He has about 17 years of Post Graduate teaching experience and        6 years of research experience. Guided twenty M.Phil research scholars for the award of M.Phil degree and currently guiding six Ph.D research scholars. He has received the Best Researcher Award presented by Indian Academic Researchers Association (IARA  Award-2016) for the outstanding contribution in research at Bharathidasan University, Tiruchirappalli. He has published several research papers in UGC approved refereed journals, few in books and participated in several international conferences and presented papers.

Best Paper Awards :-

1. Best Paper Award in the International Conference on “Leading Beyond Horizon: Engaging Future”, Annamalai University on the topic “Analysing Customers’ Attitude Towards Online Banking”, dated 28-30 July.2011.

2.  Best Paper Award in the International Conference on “Recent Trends in Commerce and Management”, Jairam Arts & Science College, Salem, on the topic  “A study on Customer Awareness about Online Banking services”, dated 5th Feb.2014.

3. Best Paper Award in the National Seminar on “Empowerment of Unorganised women through Micro Finance”, St.Xavier’s College (Autonomous), Palayamkottai, dated 06 March. 2015.