Answer to Question #239191 in Other for ngwane

Question

Calculate the following by applying the first-in-first-out (FIFO) and weighted average cost methods of valuing inventory to the information given below: USING THE FIRST-IN-FIRST-OUT METHOD 1.1.1 Value of inventory on 16 March (2)

1.1.2 Value of inventory on 31 March (2)

1.1.3 Value of issues on 18 March (2)

1.1.4 Total value of issues to production for March. (2)

USING THE WEIGHTED AVERAGE METHOD (Note: Round off the average cost per unit to the nearest cent and other amounts to the nearest Rand.)

1.1.5 Weighted average cost per unit on 16 March (2)

1.1.6 Value of returns on 20 March (2)

1.1.7 Value of issues on 18 March (2)

1.1.8 Total value of issues to production for March. (2) Note: Tables may be used to as part of your workings but the answers to each of the above questions must also be supplied separately. 

Answer 1

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