Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use the following information to calculate the val

Use the following information to calculate the value of inventory on hand on...

80.2K

Verified Solution

Question

Accounting

Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system.
\table[[01-April,Beginning Inventory,\table[[50 units @ R15 per],[unit]]],[5,Purchase,135 units @ 20 per unit],[9,Issue to production,95 units],[11,Purchase,\table[[30 units @ R16 per],[unit]]],[16,Purchase,78 units @ R17per unit],[20,Issue to production,125 units],[30,Issue to production,65 units]]
Question 2
(10 Marks)
Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system.
\table[[01-April,Beginning Inventory,\table[[50 units @ R15 per],[unit]]],[5,Purchase,135 units @ 20 per unit],[9,Issue to production,95 units],[11,Purchase,\table[[30 units @ R16 per],[unit]]],[16,Purchase,78 units @ R17per unit],[20,Issue to production,125 units],[30,Issue to production,65 units]]
image

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

Advance Math
1.2K views

#1. Represent the function: e(t)=5sin31.4t+2sin44t+6sin15.74t+2sin37.68t as a discrete set of N=128 numbers seperated by a time increment...

Accounting
1.2K views

1)Why is it important for an accountant to understand their business and industry as well as...

Physics
1.2K views

3 Two small balls A and B attract each other gravitationally with a force of...

Basic Math
1.2K views

1. Consider the curve given by xy2 - xy = 6.a. Show that dy/dx =...

Basic Math
1.2K views

A line is parallel to the x-axis and passes through (2, 3). Which answer choice...

Statistics
1.2K views

Tech4U is a technology chain that often offers really great deals on the newest devices...

Accounting
1.2K views

Which of the following bases of accounting should be used in...

Accounting
1.2K views

Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for...

Accounting
1.2K views

REQUIRED Use the information given below to prepare the Income Statement of Costa Enterprises for...

Accounting
1.2K views

Within a relevant range, the variable cost per unit will: Group of answer choices decrease...

Accounting
1.2K views

A company's gross profit was $88,890 and its net sales were $366,100. Its gross margin...

Accounting
1.2K views

Beyer Company is considering the purchase of an asset for $205,000. It is expected to...