Question
A company values its inventory using the AVCO method. On 1 January 20X7 it had opening inventory of 200 items valued at a total of
A company values its inventory using the AVCO method. On 1 January 20X7 it had opening inventory of 200 items valued at a total of 40,000. The following transactions have taken place. February Bought 500 items @ $210 each March Sold 300 items @ $90,000 August Bought 300 items @ $215 each September Sold 200 items @ $60,000
What is the value of the closing inventory at 31 December 20X7, based on period end inventory records?
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Introduction To Business Statistics
Authors: Ronald M. Weiers
7th Edition
978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081
