Determine the value of stock on hand at January

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Question - On January 1, 2021 Success started a small business selling face masks with a start-up capital of $30,000. During the month of January, the following transactions occurred.

Date of purchases

Purchases

Total cost $

Date of issues

Issues/sales

Total value $

January 1

200

10,000




January 7

400

22,000

January 9

150

12,000

January 14

600

33,000




January 21

400

23,000

January 20

1000

54,000

Required - Using the AVCO method, determine the value of stock on hand at January 9, 2021?

Reference no: EM133117096

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