Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bongi ltd incurred the following transactions, rel

Bongi Ltd incurred the following transactions, relating to inventory, during the month of March 2020:...

90.2K

Verified Solution

Question

Accounting

image

Bongi Ltd incurred the following transactions, relating to inventory, during the month of March 2020: 1 March 2020: Opening balance 2 March 2020: Sales 7 March 2020: Purchases 15 March 2020: Sales 25 March 2020: Purchases 30 March 2020: Sales Units 400 100 275 300 500 250 Rand per unit 25 30 27 35 30 36 REQUIRED: Marks (a) Calculate the cost price of closing inventory, using the FIFO method, for both the perpetual and periodic inventories recoding systems, (b) Calculate the cost price of closing inventory, using the weighted average method. for both the perpetual and periodic inventories recording systems 6 14 1201

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students