PFIN 7:STUDENT EDITION-MINDTAP (1 TERM)
7th Edition
ISBN: 9780357033647
Author: Billingsley
Publisher: CENGAGE L
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Chapter 7, Problem 2FPE
Summary Introduction
To calculate: Person L’s inventory of consumer debt and debt safety ratio.
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Use the information given below to determine the number of orders that should be placed for the year, based on the economic order quantity.
Information
Abby Traders sells a product which has a steady monthly demand of 12 000 units. The product is purchased from a supplier at R50 per unit. The ordering cost is R6 per order. The holding cost is 5.4% of the unit purchase price.
2. Use the information provided below to calculate the value of closing inventory as at 31 March 2024, if the weighted average cost method is used to value inventories. Express the weighted average cost per unit in rands and cents.
Units
Cost price per unit
Inventory on 01 March
5000
R10
Purchased on 10 March
15000
R11
Returned to supplier (see 10 March)
2000
?
Purchased on 25 March
7000
R12
Sales for March
22000
INFORMATION
The following information was extracted from the records of Cargo Stores for March 2024
3. Study the information given below and advise whether Steffi Stores…
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Chapter 7 Solutions
PFIN 7:STUDENT EDITION-MINDTAP (1 TERM)
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