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answers please 4. Damu Limited is having difficulty costing its inventory to the various jobs that it is used on. The inventory is bought in
answers please
4. Damu Limited is having difficulty costing its inventory to the various jobs that it is used on. The inventory is bought in bulk and recent receipt and issues have been: March 1 balance b/f March 3 Receipts March 6 Receipts March 9 Issues March 12 Receipts March 14 Issues 200 kgs at K40 per kg 400 kgs at K50 per kg 200 kgs at K53 per kg 500 kgs 500 kgs at K54 per kg 700 kgs Required: (a) Calculate the cost of issued inventory for the first two weeks of March and calculate the value of the closing inventory at the end of the two weeks period on the following bases: (All workings must be shown). (0) Last in first out (L.I.F.O) Weighted Average (6 marks) (7 marks)Step by Step Solution
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