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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