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The following transactions of Celtic Manufacturers, that uses the perpetual inventory system, took place during February 2021 in respect of a part used in production:
The following transactions of Celtic Manufacturers, that uses the perpetual inventory system, took place during February 2021 in respect of a part used in production: Feb 01 Stock on hand 300 units @ R17 per unit 07 Issued to production 210 units 14 Purchased from supplier 900 units @ R17.50 per unit 15 Issued to production 350 units 16 Returned to supplier (purchased on 14 February 2021) 60 units 25 Issued to production 400 units Using the weighted average cost method, the weighted average price per unit (rounded off to the nearest cent) of the inventory on hand as at 14 February 2021 is O A. R17.25 O B. R17.47 O C. R17.45 O D. none of the above
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