Please refer to screenshot for question Use the following information to answer questions 15 and 16:Tsakane Farming (Pty) Ltd ("Tsakane") has several faming operations, of which free-range eggproducing is one. Tsakane orders high quality chicken feed on a regular basis to feed their freelyroaming chickens. Chicken feed is kept in consumable inventory. The price of this chicken feed perkilogram fluctuates based on agricultural commodity prices, such as the prices of different grains.You have the following information available regarding the actual details of and movements inTsakane's chicken feed for the first few days of November 2020:Day1Price per kgR25DetailsKilogramsOpening inventoryPurchasesPurchases2004600R28400R248Issues to the hen pens(1 000)12MAC2601/103QUESTION 15Tsakane's total closing inventory Rand-value for chicken feed as at 8 November 2020 (round totwo decimal places throughout your workings) would be if the first-in-first-out (FIFO) method ofinventory valuation is applied.(1)(2)(3)(4)R5 230R4 800R5 134R5 000QUESTION 16The Rand-value of one kilogram of chicken feed in Tsakane's closing inventory as at 8November 2020 (round to two decimal places throughout your workings) would be if the weightedaverage method of inventory valuation is applied.(1)(2)(3)(4)R25,67R24,00R26,40R26,15

Inventory during the operation of the business is purchased at different prices. Since inventory is…

Use the following information to answer questions 15 and 16: Tsakane Farming (Pty) Ltd ("Tsakane") has several faming operations, of which free-range egg producing is one. Tsakane orders high quality chicken feed on a regular basis to feed their freely roaming chickens. Chicken feed is kept in consumable inventory. The price of this chicken feed pe kilogram fluctuates based on agricultural commodity prices, such as the prices of different grains. You have the following information available regarding the actual details of and movements in Tsakane's chicken feed for the first few days of November 2020: Details Opening inventory Purchases Price per kg R25 R28 R24 Day 1 4 Kilograms 200 600 400 Purchases Issues to the hen pens 8 (1 000) МAC 2001/1 QUESTION 15 Tsakane's total elosing inventory Rand-value for chicken feed as at 8 November 2020 (round ti two decimal places throughout your workings) would be if the first-in-first-out (FIFO) method of inventory valuation is applied. (1) (2) (3) R5 230 R4 800 R5 134 R5 000 QUESTION 16 The Rand-value of one kilogram of chicken feed in Tsakane's elosing inventory as at 8 November 2020 (round to two decimal places throughout your workings) would be if the weighted average method of inventory valuation is applied. (1) (2) (3) (4) R25,67 R24,00 R26,40 R26,15

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints

Section: Chapter Questions

Problem 17E