Question
the ansewrs should be in where it says answers ? Following is a list of inventory transactions for NEBT P/L (unit cost is GST exc
the ansewrs should be in where it says answers ?
Following is a list of inventory transactions for NEBT P/L (unit cost is GST exc amount). NEBT P/L uses a perpetual average cost inventory system.
1. Complete the inventory table below (10 Marks).
2. Answer the 2 questions following the table (5 Marks)
All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers unless a negative number needs to be entered (this will take the format eg "-28").
Each box must be completed. If there is no value enter 0 (zero).
Date | Description | Quantity | Unit Cost |
01/06/17 | On Hand | 15 | 100 |
08/06/17 | Purchase | 10 | 130 |
10/06/17 | Sale | 5 | |
17/06/17 | Return damaged items from 8/6/17 purchase | 2 |
Purchases | Cost of Sales | Inventory On Hand | |||||||||
Date | Qty | Unit Cost | Total Cost | Qty | Unit Cost | Total Cost | Qty | Unit Cost | Total Cost | ||
01/06/17 | 15 | 100 | 1500 | ||||||||
08/06/17 | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer | ||
10/06/17 | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer | ||
17/06/17 | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer | Answer |
What is the total Cost of Goods Sold? | Answer | 3 Marks |
What is the value of ending inventory? | Answer | 2 Marks |
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