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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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