Odomfo Plc, a newly incorporated company, uses a software to cost and value its inventory. This popular software is programmed to value inventory using the weighted-average cost method only. The following are the purchases and sales made by Odomfo Plc during 2013 (as a newly setup company, Odomfo had no inventory carried forward from earlier periods): Purchases January 15, 2013 March 15, 2013 September 25, 2013 200 units 200 units 200 units @ GHS200 per unit @GHS300 per unit @GHS350 per unit Sales 100 units March 25, 2013 December 15, 2013 175 units Based on this information, the valuation of the inventory and the cost per unit of the inventory at March 31, 2013, September 30, 2013, and December 31, 2013, under the weighted-average cost method, would be
Odomfo Plc, a newly incorporated company, uses a software to cost and value its inventory. This popular software is programmed to value inventory using the weighted-average cost method only. The following are the purchases and sales made by Odomfo Plc during 2013 (as a newly setup company, Odomfo had no inventory carried forward from earlier periods): Purchases January 15, 2013 March 15, 2013 September 25, 2013 200 units 200 units 200 units @ GHS200 per unit @GHS300 per unit @GHS350 per unit Sales 100 units March 25, 2013 December 15, 2013 175 units Based on this information, the valuation of the inventory and the cost per unit of the inventory at March 31, 2013, September 30, 2013, and December 31, 2013, under the weighted-average cost method, would be
Chapter1: Financial Statements And Business Decisions
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