The following are the balance, receipts and issues of stocks for Tamapo$$s

inventory for the month of January $2019.$

$1$ January $2019$ opening balance of $2,000\mathrm{.}00$ units at P$2\mathrm{.}02$ per unit

$15$ January $2019$ receipts of $10,000\mathrm{.}00$ units at P$2\mathrm{.}20$ per unit

$25$ January $2019$ issues of $8,000\mathrm{.}00$ units

 

 

Required:

Calculate the closing stock using the AVCO method of inventory valuation. $(5$ marks$)$