Your organisation uses the weighted average cost method of valuing inventories. During August 20X1, the following inventory details were recorded: Opening balance 5 August 10 August 18 August 23 August 30 units valued at $2 each purchase of 50 units at $2.40 each issue of 40 units purchase of 60 units at $2.50 each issue of 25 units What is the value of the inventory at 31 August 20X1?

Your organisation uses the weighted average cost method of valuing inventories. During August 20X1, the following inventory details were recorded: Opening balance 5 August 10 August 18 August 23 August 30 units valued at $2 each purchase of 50 units at $2.40 each issue of 40 units purchase of 60 units at $2.50 each issue of 25 units What is the value of the inventory at 31 August 20X1?

Name: Your organisation uses the weighted average cost method of valuing in
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Description: Your organisation uses the weighted average cost method of valuing inventories. During August20X1, the following inventory details were recorded:Opening balance5 August10 August18 August23 August30 units valued at $2 eachpurchase of 50 units at $2.4

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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