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  3. 2.2 calculate the value of closing inventory on 31

2.2 Calculate the value of closing inventory on 31 January 2023 using the: The following...

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Accounting

2.2 Calculate the value of closing inventory on 31 January 2023 using the: The following transactions of Mia Limited took place during January 2023 in respect of a component XYZ used in production: Jan 01 08 12 15 18 25 27 Stock of component XYZ on hand Issued to production Purchased from supplier Returned to supplier (purchased on 12 January 2022) Issued to production Purchased from supplier Issued to production 300 units @ R48 per unit 220 units 400 units @ R50 per unit 60 units 340 units 280 units @ R52 per unit 260 units 2.2.1 First-in-first-out (FIFO) method (10 marks)

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