The following transactions of Franco Manufacturers took place during March 2022: Date Transaction 01 05 12 Opening inventory Purchased from a supplier Purchased from a supplier Units 1 600 600 1 300 Price per unit R3.50 R4.00 R4.50

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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From the information provided on the images complete the table using the FIFO method of inventory
valuation
:

Purchased
Date Quantity Price Amount
Issues and returns
Quantity
Price Amount
Balance
Quantity Price Amount
Transcribed Image Text:Purchased Date Quantity Price Amount Issues and returns Quantity Price Amount Balance Quantity Price Amount
The following transactions of Franco Manufacturers took place during March 2022:
Date Transaction
01
05
12
24
16
28
Opening inventory
Purchased from a supplier
Purchased from a supplier
Purchased from a supplier
Issued to production
Issued to production
Units
1 600
600
1 300
1 600
1 800
1 300
Price per unit
R3.50
R4.00
R4.50
R5.00
?
?
Transcribed Image Text:The following transactions of Franco Manufacturers took place during March 2022: Date Transaction 01 05 12 24 16 28 Opening inventory Purchased from a supplier Purchased from a supplier Purchased from a supplier Issued to production Issued to production Units 1 600 600 1 300 1 600 1 800 1 300 Price per unit R3.50 R4.00 R4.50 R5.00 ? ?
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