Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On 01 January, the opening inventory of UYR, a manufacturer company, was 300 units held at U$20.00 per unit. The following transactions took place during
On 01 January, the opening inventory of UYR, a manufacturer company, was 300 units held at U$20.00 per unit. The following transactions took place during the month. Date Transaction Units Price per unit (U$) 05 January Purchased 100 21.00 11 January Sale 200 38.00 14 January Purchased 300 22.00 20 January Purchased 400 23.28 25 January Sale 200 38.00 Calculate the cost of inventory at 31 January on a continuous weighted average basis. Give your answer to the nearest whole U$. Do not include symbols, commas or letters in your response
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started