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Use the first-in-first-out (FIFO) method to complete the table provided below for the stated transactions....

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Accounting

Use the first-in-first-out (FIFO) method to complete the table provided below for the stated transactions. (4 marks) INFORMATION The following transactions of Max Enterprises took place during August 2022 in respect of a component used in production: Date Transactions 01 07 15 24 27 30 Opening inventory Purchased from a supplier Issued to production Purchased from a supplier Returned to the supplier (see 24th) Issued to production Table to complete: Date Purchases Quantity Price Amount 180 units @ R10 per unit 900 units @ R11 per unit 630 units 540 units @ R12 per unit 100 units 600 units Issues and returns Quantity Price Amount Balance Price Quantity Amount
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INFORMATION The following transactions of Max Enterprises took place during August 2022 in respect of a component used in nroduction

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