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Quesion 1 Bonivesta Inc, a general merchandiser uses the periodic inventory system. Transactions recorded for January 2022 are as follows: 1 January Opening inventory 200
Quesion 1
Bonivesta Inc, a general merchandiser uses the periodic inventory system. Transactions recorded for January 2022 are as follows:
1 January | Opening inventory | 200 units | @R10 per unit |
2 January | Issued | 70 units | |
4 January | Received | 130 units | @R12 per unit |
6 January | Received | 150 units | @R13 per unit |
7 January | Issued | 307 units | |
10 January | Stock taking |
Using the weighted average cost method, calculate the closing inventory on 10 January 2022
Answer
A. R4 810
B. R3 602
C. R1 208
D. R2 860
Question 2
Bonivesta Inc, a general merchandiser uses the periodic inventory system. Transactions recorded for January 2022 are as follows:
1 January | Opening inventory | 200 units | @R10 per unit |
2 January | Issued | 70 units | |
4 January | Received | 130 units | @R12 per unit |
6 January | Received | 150 units | @R13 per unit |
7 January | Issued | 307 units | |
10 January | Stock taking |
Using the first-in, first-out method, calculate the cost of goods sold during the period
Answer
A. R3 471
B. R3 560
C. R4 302
D. R4 171
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