please answer the required question and make sure the values are correct, thanks (c) Quality Wash (QW) Itd is a manufacturer of washing machines for the Kenyan market.The following information has been extracted from the store records for an important rawmaterial component SR-42AApril 1Opening inventory of SR-42A was 100,000 units having a value of Kshs. 80 per unitApril 5150,000 units of SR-42A were purchased at Kshs. 85 per unitApril 6150,000 units of SR-42A were issued from storesApril 11180,000 units of SR-42A were purchased at Kshs. 88.15 per unitApril 13220,600 units of SR-42A were issued from storesApril 1895,500 units of SR-42A were purchased at Kshs. 92.50 per unitApril 22112,500 units of SR-42A were issued from storesApril 28105,800 units of SR-42A were purchased at Kshs. 98.50 per unit Required:i) Prepare the stock ledger account for SR-42A using the Weighted Average price methodMonth of April 2021ii) Explain whether the Last In First Out (LIFO) method will have a lower or higher valuationof the closing stock compared to the closing stock value derived when using the WeightedAverage price method for the Month of April 2021

Weighted average method of inventory valuation shows inventory at the average price which is…

Required: i) Prepare the stock ledger account for SR-42A using the Weighted Average price method Month of April 2021 ii) Explain whether the Last In First Out (LIFO) method will have a lower or higher valuation of the closing stock compared to the closing stock value derived when using the Weighted Average price method for the Month of April 2021

Required: i) Prepare the stock ledger account for SR-42A using the Weighted Average price method Month of April 2021 ii) Explain whether the Last In First Out (LIFO) method will have a lower or higher valuation of the closing stock compared to the closing stock value derived when using the Weighted Average price method for the Month of April 2021

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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