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XYZ Ltd gives the following details about the inventory of electronic components for October 2020. Date Quantity in units Cost per unit Opening Stock on
XYZ Ltd gives the following details about the inventory of electronic components for October 2020. Date Quantity in units Cost per unit Opening Stock on 1/10 150 32 5th October - Purchase 200 32 17th October - Purchase 450 31 28th October - Purchase 100 33 At the end of October, 220 units remained in inventory. If the company uses the FIFO method of valuating inventory, what would be the cost of goods sold for October and the value of closing stock? What will be the weighted average price of the inventory, in case the company decides to use WAC method of valuating inventory
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