Question: From the information provided below complete the table using the FIFO method of inventory valuation: Purchased Issues and returns Balance Date Quantity Price Amount Quantity

From the information provided below complete the table using the FIFO method of inventory valuation:

Purchased

Issues and returns

Balance

Date

Quantity

Price

Amount

Quantity

Price

Amount

Quantity

Price

Amount

The following transactions of Franco Manufacturers took place during March 2022:

Date

Transaction

Units

Price per unit

01

Opening inventory

1 600

R3.50

05

Purchased from a supplier

600

R4.00

12

Purchased from a supplier

1 300

R4.50

24

Purchased from a supplier

1 600

R5.00

16

Issued to production

1 800

?

28

Issued to production

1 300

?

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