The following are the balance, receipts and issues of stocks for Tamapo's inventory for the month of January 2019. 1 January 2019 opening balance of 2,000.00 units at P2.02 per unit 15 January 2019 receipts of 10,000.00 units at P2.20 per unit 25 January 2019 issues of 8,000.00 units Required: Calculate the closing stock using the AVCO method of inventory valuation.
The following are the balance, receipts and issues of stocks for Tamapo's inventory for the month of January 2019. 1 January 2019 opening balance of 2,000.00 units at P2.02 per unit 15 January 2019 receipts of 10,000.00 units at P2.20 per unit 25 January 2019 issues of 8,000.00 units Required: Calculate the closing stock using the AVCO method of inventory valuation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following are the balance, receipts and issues of stocks for Tamapo's inventory for the month of January 2019. 1 January 2019 opening balance of 2,000.00 units at P2.02 per unit 15 January 2019 receipts of 10,000.00 units at P2.20 per unit 25
January 2019 issues of 8,000.00 units Required: Calculate the closing stock using the AVCO method of inventory valuation.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F543eaf6b-1716-43d9-a330-759a08bcdbcb%2Fa4b9002f-4b37-440e-9064-ba7275af4b7a%2Fhe8ff5i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following are the balance, receipts and issues of stocks for Tamapo's inventory for the month of January 2019. 1 January 2019 opening balance of 2,000.00 units at P2.02 per unit 15 January 2019 receipts of 10,000.00 units at P2.20 per unit 25
January 2019 issues of 8,000.00 units Required: Calculate the closing stock using the AVCO method of inventory valuation.
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