Kenari Plastics Sdn. Bhd., a subsidiary of Kenari Cahaya Malaysia, supplies commercial-use plastic bags to its...

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Kenari Plastics Sdn. Bhd., a subsidiary of Kenari Cahaya Malaysia, supplies commercial-use plastic bags to its customers in Peninsula Malaysia. There was an opening inventory, 90 units at RM5.80 per unit, brought forward from previous month. During September 2018, the company's operation had the following transactions: Date September 2 September 4 September 10 September 14 Purchases 280 units @ RM6.10 each 150 units @ RM6.30 each Issued out to customer 190 units@RM12 each 210 units@15 each The owner had not taken any money out of the business for living expenses. The total expenses incurred was RM2,800. Required: (a) Using the MAVG methods to calculate the cost of goods sold and value of stock as at 30 September 2018. (b) Prepare a statement of profit and loss for month ended 30 September 2018 in the columnar format, using MAVG methods in part (a). Kenari Plastics Sdn. Bhd., a subsidiary of Kenari Cahaya Malaysia, supplies commercial-use plastic bags to its customers in Peninsula Malaysia. There was an opening inventory, 90 units at RM5.80 per unit, brought forward from previous month. During September 2018, the company's operation had the following transactions: Date September 2 September 4 September 10 September 14 Purchases 280 units @ RM6.10 each 150 units @ RM6.30 each Issued out to customer 190 units@RM12 each 210 units@15 each The owner had not taken any money out of the business for living expenses. The total expenses incurred was RM2,800. Required: (a) Using the MAVG methods to calculate the cost of goods sold and value of stock as at 30 September 2018. (b) Prepare a statement of profit and loss for month ended 30 September 2018 in the columnar format, using MAVG methods in part (a).

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Lets proceed with the calculations Step 1 Calculate the weighted average cost per unit after ea... View the full answer