Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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47)

Global company provided the following inventory information for the month of March 2019.

 

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

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.
a.
RO 15,258
b.
RO 11,400
c.
RO 8,901
d.
RO 7,480
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