1.1 REQUIRED 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 Opening inventory 180 units @ R10 per unit

07 Purchased from a supplier 900 units @ R11 per unit

15 Issued to production 630 units

24 Purchased from a supplier 540 units @ R12 per unit

27 Returned to the supplier (see 24th) 100 units

30 Issued to production 600 units

Table to complete: Purchases Issues and returns Balance.

Date Quantity Price Amount Quantity Price Amount Quantity Price Amount

Answer ALL questions. (100 MARKS) QUESTION 1 (20 MARKS) 1.1 REQUIRED 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: Table to complete