Question
The following transactions of CAN Manufacturers are expected to take place during June 2018 in respect of a raw material M321 used in project F
The following transactions of CAN Manufacturers are expected to take place during June 2018 in respect of a raw material M321 used in project F
June | Details | units |
01 | Opening inventory | 2 000 units at R30 per unit |
08 | Issue to production | 1 600 units |
11 | Purchase from supplier | 1 800 units at R31 per unit |
18 | Issue to production | 1 900 units |
21 | Purchase from supplier | 2 000 units at R32 per unit |
25 | Issue to production | 1 400 units |
Required
Use the FIFO method and weighted average cost methods to complete the tables below that include the expected issue price to production and the value of closing inventory.
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