Question 1 Consider the opening inventory below: Opening inventory (40% complete for all cost elements Put in process Units Completed and Transferred Closing inventory (20% complete for all cost elements) Units 2 400 3 600 6 000 5 400 600 6 000 a) Compute the Equivalent units according to the Weighted Average Method

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 1
Consider the opening inventory below:
Opening inventory (40% complete for all cost
elements
Put in process
Units Completed and Transferred
Closing inventory (20% complete for all cost
elements)
Units
2 400
3 600
6 000
5 400
600
6 000
a) Compute the Equivalent units according to the Weighted Average Method
Transcribed Image Text:Question 1 Consider the opening inventory below: Opening inventory (40% complete for all cost elements Put in process Units Completed and Transferred Closing inventory (20% complete for all cost elements) Units 2 400 3 600 6 000 5 400 600 6 000 a) Compute the Equivalent units according to the Weighted Average Method
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