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Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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Question
47)
Global company provided the following inventory information for the month of March 2019.
Based on the above table find out the amount of Closing inventory for the month of March 2019, if the business is evaluating the inventory by using Weighted average method under the Periodic inventory system.
|
Units |
Cost (RO) |
Amount (RO) |
Mar-1 Beginning inventory |
230 |
20 |
4,600 |
Mar 8- Purchases |
340 |
24 |
8,160 |
Mar 16- Purchases |
380 |
30 |
11,400 |
Mar 14- Sales |
350 |
40 |
14,000 |
a.
RO 15,258
b.
RO 11,400
c.
RO 8,901
d.
RO 7,480
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