Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

-7 Q.2.1 The data below shows transactions on an inventory item at Sweet Juices Manufacturing (LTD), for the month of February 2019. Date Transaction Type

image text in transcribed
-7 Q.2.1 The data below shows transactions on an inventory item at Sweet Juices Manufacturing (LTD), for the month of February 2019. Date Transaction Type Item Code item Description Quantity Cost Per Unit Total Cost 01 February 2019 Purchases 100001 Orange Juice Concentrate 200 Lt 10 R2 500 R25 000 04 February 2019 Issue to Factory 100001 Orange Juice Concentrate 200 Lt R2 500 17 500 05 February 2019 Purchases IC0001 Orange Juice Concentrate 200 LE 15 R2 800 R42 000 07 February 2019 issue to Factory 1C0001 Orange Juice Concentrate 200 Lt 12 R2 500 R30 000 09 February 2019 Purchases IC0001 Orange Juice Concentrate 200 Lt 20 R2 700 R54 000 10 February 2019 issue to Factory IC0001 Orange Juice Concentrate 200 Lt 15 R2 500 R37 500 14 February 2019 Purchases 100001 Orange Juice Concentrate 200 Lt 25 R2 600 R65 000 15 February 2019 issue to Factory IC0001 Orange Juice Concentrate 200LT -20 R2 500 -RSO 000 20 February 2019 Purchases 100001 Orange Juice Concentrate 200L 10 R2 900 R29 000 21 February 2019 issue to Factory 1C0001 Orange Juice Concentrate 200 Lt R2500 R25 000 Stock On Hand at end of period 10 8188 40 (4) Using the information above calculate the following: Q.2.1.1 Total costs of goods available for sale Q.2.1.2 Total quantity of goods available for sale Q.2.1.3 Average Cost Method (4) (4)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Karen Wilken Braun, Wendy M. Tietz

2nd Custom Edition

1269396803, 978-1269396806

More Books

Students also viewed these Accounting questions