Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investing All In One For Dummies

Authors: Eric Tyson

2nd Edition

1119873037, 978-1119873037

More Books

Students also viewed these Finance questions

Question

name the compounds by IUPAC Nome the follising eamemats by IUPAC

Answered: 1 week ago