Page 114 - F2 - MA Integrated Workbook STUDENT 2018-19
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Chapter 5
Test your understanding 6
Dennis has the following KG of raw material in inventory:
Date purchased Quantity Cost per kg $ Total cost $
April 24 500 1.20 600
April 26 450 1.30 585
April 30 600 1.50 900
Calculate the cost of issuing 1,000 kg on 1 May and the value of the closing
inventory (to the nearest $) using:
FIFO
LIFO
AVCO
Illustrations and further practice
Now try TYU question 9 – 12 from Chapter 5
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