TSSM 2010 HELP!

[vidang]

Question 2 of TSSM 2010

when recording the transaction on November 16th
i did this:

Creditors Control    814
LZ Limited                                 814
       stock control        740
       gst clearing          74

they got something totally different (see below)
i thought we had to use FIFO method so would it not be normal to remove the stock you bought on 10th of november instead of your starting balance?

and the stock card is abit weird as well
for nov 16th i did:

DATE     |  Details   .. |    OUT       |  Balance
16 Nov     CN 8           2   370  740   9  350  3150
                                                   8  370  2960

anyone care to help me out?
                                         

[eeps]

I see what you mean. But I think what the solutions means is that the 2 faulty goods/stock which is returned to the supplier, are the ones which the Debtor returned to us, the business. Hence the $350*2 gives you $700, which is the amount returned to the supplier + $70 GST.

The purchase on the 10 Nov isn't the one which is being returned to the supplier, rather the ones which the Debtor returned to us, if that makes sense.

TSSM have just muddled up CN 8 in the stock card. I think it should read: 2*350 giving you the $700.

[vidang]

i get what you mean we are returning the stock to the supplier that the debotr returns to us
fair trippy question
but thanks

[eeps]

i get what you mean we are returning the stock to the supplier that the debotr returns to us
fair trippy question
but thanks

I agree, it's an ambiguous question. =P

Good Luck! =)