Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system. 01-April Beginning Inventory50 units @ R15 per unit 5 April Purchase 135 units @ 20 per unit 9 april: Issue to production 95 units 11 april : Purchase 30 units @ R16 per unit 16 April Purchase: 78 units @ R17per unit20 20 April Issue to production :125 units 30 April Issue to production 65 units
Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system. 01-April Beginning Inventory50 units @ R15 per unit 5 April Purchase 135 units @ 20 per unit 9 april: Issue to production 95 units 11 april : Purchase 30 units @ R16 per unit 16 April Purchase: 78 units @ R17per unit20 20 April Issue to production :125 units 30 April Issue to production 65 units
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section: Chapter Questions
Problem 3AP
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Question
Use the following information to calculate the value of inventory on hand on April 30 and issue price to
production during April using FIFO inventory system.
01-April Beginning Inventory
50 units @ R15 per
unit
5 April Purchase 135 units @ 20 per unit
9 april: Issue to production 95 units
11 april : Purchase 30 units @ R16 per
unit
16 April Purchase: 78 units @ R17per unit20
20 April Issue to production :125 units
30 April Issue to production 65 units
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