Question
Your organisation uses the continuous weighted average cost method of valuing inventory. During August20X1,the following inventory details were recorded: Opening balance30units valued at $2each 5August
Your organisation uses the continuous weighted average cost method of valuing inventory. During August20X1, the following inventory details were recorded:
Opening balance 30 units valued at $2 each
5 August Purchase of 50 units at $2.40 each
10 August Issue of 40 units
18 August Purchase of 60 units at $2.50 each
23 August Issue of 25 units
What is the value of the inventory balance at 31 August 20X1?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
