3. Scenario: Yanbar Ltd uses a perpetual inventory system. The company policy states that "the...
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3. Scenario: Yanbar Ltd uses a perpetual inventory system. The company policy states that "the unit cost of inventory is assigned using the weighted average cost method as per AASB 102 Inventories". a) During the month of June 2022, the company had the following transactions for Material A. Prepare a raw material inventory card using the method for inventory costing as per company policy. 1 June Opening Balance 50 units @ $8.00 2 June Purchases 60 units @ $8.50 3 June Issues 80 units 4 June Purchases 75 units @ $9.00 5 June Issues 50 units b) Prepare the journal entry necessary to charge the raw material issued to the production process. c) With reference to AASB102 Inventories, what other systems or methods may be used to assign costs to inventories
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