QUESTIONS 5.3Prepare an extract of the Statement of Comprehensive Income that would reflect, amongst others, the value of closing inventory and gross profit for the year ended 31 December 2020 using the following methods of inventory valuation.5.3.1 Fist-in-first-out5.3.2 Weighted average cost bads/OSA_Jan21_PGDBM_AFM801_Main_20211112080701%20(1).pdfMain 20211112080701 (1).pdf9 /12100%INFORMATIONSaha Sportshop had the following inventory of cricket bats on 01 January 2020, the start of the financial year:QuantityUnit purchase priceCarriage on purchases per unit30 batsR250R10During 2020 the following purchases, returns and sales were made:270 bats were purchased at R270 each on 31 March 2020. Carriage amounted to R10 per unit.100 bats that were purchased on 31 March 2020 were returned to the supplier. No refund could be obtained on thecarriage.300 bats were purchased at R280 each on 31 August 2020. Carriage amounted to R15 per unit.400 bats were sold during the year at R500 each.Note: The carriage costs are not included in the purchase prices stated above.21°C

Name: QUESTIONS 5.3Prepare an extract of the Statement of Comprehensive Inco
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: QUESTIONS 5.3Prepare an extract of the Statement of Comprehensive Income that would reflect, amongst others, the value of closing inventory and gross profit for the year ended 31 December 2020 using the following methods of inventory valuation.5.3.1