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3.4 A manufacturing company uses a perpetual inventory system. The following transactions took place during March 202 : 1/3/202 Balance of 5 units at total
3.4 A manufacturing company uses a perpetual inventory system. The following transactions took place during March 202 : 1/3/202 Balance of 5 units at total cost of R1750 and 19 units @ R355 per unit 5/3/202 Issue 13 units 7/3/20210/3/202Purchase18unitsatatotalcostof16R6480=360Issue15units 13/3/202 Return 3 units to the supplier (purchased 7/3/202 ) (The supplier did not replace these units.) 19/3/202 Purchase 17 units @ R370 each 21/3/202 Purchase 5 units @ R375 each 22/3/202 Issue 21 units 25/3/202 Return 4 units to the storeroom - 27/3/20X2 Purchase 16 units @ R365 each 29/3/202 Issue 14 units 30/3/202 Roturn 2 units to the storeroom 31/3/202 Issue 6 units Calculate the value of the closing inventory using the (a) FIFO method (b) LIFO method (c) weighted average method
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