Use the above information to calculate the closing inventory for 31 July 2022 Selling price N$ 50 Date Bought Date Sold 01 July 2022 250 N$ 12 08 July 2022 120 05 July 2022 380 N$ 14 12 July 2022 80 14 July 2022 450 N$ 17 i) AVCO 07 Marks ii) Calculate purchases using AVCO 02 Marks iii) Calculate c...

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Use the above information to calculate the closing inventory for 31 July 2022. Selling price: N$ 50

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Use the above information to calculate the closing inventory for 31 July 2022.

Selling price: N$ 50

Date	Bought	Date	Sold
01 July 2022	250 @ N$ 12	08 July 2022	120
05 July 2022	380 @ N$ 14	12 July 2022	80
14 July 2022	450 @ N$ 17

i) AVCO 07 Marks

ii) Calculate purchases using AVCO 02 Marks

iii) Calculate cost sale using AVCO 02 Marks

iv) Calculate sales using AVCO 03 Marks

v) Prepare trading statement as at 31 July 2022 04 Marks

Related Book For answer-question

Financial Markets and Institutions

ISBN: 978-0077861667

6th edition

Authors: Anthony Saunders , Marcia Cornett

See More Books

Posted Date: Oct 25, 2020 12:32 PM

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Use the above information to calculate the closing inventory for 31 July 2022. Selling price: N$ 50

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Financial Markets and Institutions

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