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You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted
You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640 Purchases during the month were: 9 October 1,140 units @ 145 each 15 October 1,310 units @ 150 each 24 October 620 units@ 155 each Sales during the month were: Date Number of items selling price per item 12 October 1,040 1,840 21 October $ 205 220 The other cost besides the purchases were: Wages of staff $44,700; Premises expenses $ 42,750; Administrative expenses $13,620; Selling and marketing costs $17,890; Carriage inwards $ 3,750; Carriage outwards $4,120 and Depreciation $11,250 What is the total value for purchases during the month of October 2020
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