Q63

National Detergent Co had the following transactions for a period for a particular line of Inventory for the month of January

5th Jan Purchased 60 tonnes @ $20 per tonne

15th Jan Purchased another 30 tonnes at $22 per tonne

25th Jan Sold 30 tonnes

The business uses AVCO as its way of dealing with inventory flow assumptions.

The value of closing stock at the for the month of January is: $660.00$620.00$1,260.00$1,240.20