Complete the table below for the transactions provided using the following methods of inventory valuation:4.1.1 Weighted average cost4.1.2 FIFO PurchasesIssues/Returns to supplierBalanceDateQuantityPriceAmount QuantityPriceAmount QuantityPriceAmountINFORMATIONThe following information was extracted from the records of Planet Limited, a manufacturing company, for aninventory item called Fitness Plus used in Project A for March 2021:MarchTransaction details01Opening inventory: 6 000 units @ R40 each.07Invoice received for 144 000 units @ R44 each.09Transferred 105 000 units to the production department.10Returned 15 000 damaged units (purchased 07 March) to the supplier.16Invoice received for 30 000 units at R48 each.22Transferred 45 000 units to production.30Invoice received for 15 000 units @ R52 each. WACOPurchasesIssues/ReturnsBalanceDate Quantity Price Amount Quantity Price Amount Quantity Price Amount4.1.2FIFOPurchasesIssues/ReturnsBalanceDate Quantity Price Amount Quantity Price Amount Quantity Price Amount

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Description: Complete the table below for the transactions provided using the following methods of inventory valuation:4.1.1 Weighted average cost4.1.2 FIFO PurchasesIssues/Returns to supplierBalanceDateQuantityPriceAmount QuantityPriceAmount QuantityPriceAmountI

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Business

Accounting

Complete the table below for the transactions provided using the following methods of inventory valuation: 4.1.1 Weighted average cost 4.1.2 FIFO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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