Solution-Calculate closing inventory that would be shown

Calculate closing inventory that would be shown

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Reference no: EM132366545

Question

Date Bought Date	Sold
15 at N $ 12.50	06 March 2019	20	01 March 2019
05 March 2019	25 at N $ 12.80	15 March 2019	20
17 March 2019	40 at N $ 13.20	24 March 2019	20
23 March 2019	20 at N $ 13.60	30 March 2019	20
31 March 2019	12 at N $ 14.10

Selling price: N$ 20

Use the above information to calculate closing inventory that would be shown using below method for 31 March 2019 financial year.

AVCO

Calculate purchases using AVCO

Calculate cost of sale using AVCO

Calculate sales using AVCO

Prepare trading statement as at 31 March 2019

Reference no: EM132366545

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Calculate closing inventory that would be shown

Reference no: EM132366545

Reference no: EM132366545

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