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From the information provided below complete the table using the FIFO method of inventory valuation : Purchased Issues and returns Balance Balance Date Quantitiy Price
From the information provided below complete the table using the FIFO method of inventory valuation:
Purchased | Issues and returns Balance | Balance | |||||||||
Date | Quantitiy | Price | Amount | Quantitiy | Price | Amount | Quantitiy | Price | Amount |
The following transactions of Franco Manufacturers took place during March 2022:
Date | Transaction | Units | Price per unit |
1 | Opening inventory | 1 600 | R3.50 |
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5 | Purchased from a supplier | 600 | R4.00 |
12 | Purchased from a supplier | 1 300 | R4.50 |
24 | Purchased from a supplier | 1 600 | R5.00 |
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16 | Issued to production | 1 800 | ? |
28 | Issued to production | 1 300 | ? |
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