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In: Accounting

END OF CHAPTER QUESTIONS The following transactions of CAN Manufacturers are expected to take place during...

END OF CHAPTER QUESTIONS

The following transactions of CAN Manufacturers are expected to take place during June 2018 in respect of a raw material M321 used in project F

June

Details

units

01

Opening inventory

2 000 units at R30 per unit

08

Issue to production

1 600 units

11

Purchase from supplier

1 800 units at R31 per unit

18

Issue to production

1 900 units

21

Purchase from supplier

2 000 units at R32 per unit

25

Issue to production

1 400 units

Required

Use the FIFO method and weighted average cost methods to complete the tables below that include the expected issue price to production and the value of closing inventory.

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ekkarill92 answered 3 years ago
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