An organization's records for last month show the following in respect of one stores item:

Last month’s opening stock was valued at a total of £2900 and the receipts during the month were purchased at a cost of £17.50 per unit.
The organization uses the weighted average method of valuation and calculates a new weighted average after each stores receipt.
What was the total value of the issues last month?

(a) £7360

(c) £7590

(b) £7534

(d) £7774 (2 marks)
ACCA Financial Information for Management

Transcribed Image Text:

Date Receipt units Issues units Stock units 1st 200 5th 100 100 7th 400 500 19th 190 310 27th 170 140