Your organisation uses the continuous weighted average cost method of valuing inventory. During August20X1, the following inventory details were recorded:

Opening balance 30 units valued at $2 each

5 August Purchase of 50 units at $2.40 each

10 August Issue of 40 units

18 August Purchase of 60 units at $2.50 each

23 August Issue of 25 units

What is the value of the inventory balance at 31 August 20X1?

Answer rating: 100% (QA)

To calculate the value of the inventory balance at 31 August 20X1 using the continuous weighted aver... View the full answer