The following transactions of BNM Ltd took place during April 20.6 in respect of a component used

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The following transactions of BNM Ltd took place during April 20.6 in respect of a component used in production:

April

01 -Opening inventory 90 units at R10 per unit

07 -Issued to production 50 units

10 -Purchased from supplier 160 units at R11 per unit

17 -Issued to production 30 units

20 -Purchased from supplier 60 units at R12 per unit

24 - Issued to production 60 units

30 -Returned to supplier (bought on 10 April) 20 units

Required Using the FIFO method, calculate the issue price to production and the value of closing inventory

Related Book For answer-question

Accounting Information Systems

ISBN: 978-0133428537

13th edition

Authors: Marshall B. Romney, Paul J. Steinbart

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Posted Date: May 03, 2023 06:08 AM

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The following transactions of BNM Ltd took place during April 20.6 in respect of a component used

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Accounting Information Systems

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