Estimate the value of inventory at the end

Assignment Help Cost Accounting

Reference no: EM13547368

Task -1

Management Accounting Costing and Budgeting. Classify different types of cost.

Task -2

Estimate inventory values using different methods.

Scenario-1

The Breeze Trading Company discloses the following information about the stock for the month of August 2014:

Date	Issosi_.Receipt	Units	Cost per unit ($)
Beginning of August	Opening Balance	600	S
10* august	Sale	400
11^* August	Purchases	1600	6
15^* August	Sale	1000
18^* August	Sale	400
20^* august	Purchases	600	6.50
24"' August	Purchases	200	7.00
27* August	Sale	800
28^* August	purchases	SOO	6.75
30^* August	Sale	300
31* August	Sale	200

a) Estimate the Value of Inventory at the end of August using different methods.

b) What will be the difference in the inventory value at the end of August using the methods above and why?

Reference no: EM13547368

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