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Rick's Juice Bat had the following purchases and sales for the month of January 2020. January Sales 1 6 10 15 20 30 Purchases 300@$2.50 150@$3.00 200@$3 120@$4 220@$9 220@$9 Required Calculate the closing stock using: i. FIFO II.AVCO Calculate the Trading accounts for the month if the closing stock is valued using FIFO and AVCO

Rick's Juice Bat had the following purchases and sales for the month of January 2020. January Sales 1 6 10 15 20 30 Purchases 300@$2.50 150@$3.00 200@$3 120@$4 220@$9 220@$9 Required Calculate the closing stock using: i. FIFO II.AVCO Calculate the Trading accounts for the month if the closing stock is valued using FIFO and AVCO

FINANCIAL ACCOUNTING
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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Rick's Juice Bat had the following purchases and sales for the month of January 2020. January Sales 1 6 10 15 20 30 Average usage minimum usage maximum usage Purchases Lead time 300@$2.50 150@$3.00 200@$3 Required Calculate the closing stock using: i. FIFO II.AVCO Calculate the Trading accounts for the month if the closing stock is valued using FIFO and AVCO The following information was obtained from a manufacturing company. 50units per day 30 units per day 65 units per day 10-13 days 2000 units 120@$4 220@$9 EOQ (previously calculated) Calculate the following: i. the reorder level ii. minimum level maximum level 220@$9
Transcribed Image Text:Rick's Juice Bat had the following purchases and sales for the month of January 2020. January Sales 1 6 10 15 20 30 Average usage minimum usage maximum usage Purchases Lead time 300@$2.50 150@$3.00 200@$3 Required Calculate the closing stock using: i. FIFO II.AVCO Calculate the Trading accounts for the month if the closing stock is valued using FIFO and AVCO The following information was obtained from a manufacturing company. 50units per day 30 units per day 65 units per day 10-13 days 2000 units 120@$4 220@$9 EOQ (previously calculated) Calculate the following: i. the reorder level ii. minimum level maximum level 220@$9
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