QUESTION $1$

$(20$ Marks$)$

$1\mathrm{.}1$

REQUIRED

Use the information provided below to calculate the following:

$1\mathrm{.}1\mathrm{.}1$ The net value of issues to the production department for May $2024$ using the weighted average cost method. Express the weighted average cost per unit in rands and cents. $(4$ Marks$)$

$1\mathrm{.}1\mathrm{.}2$ The valu

INFORMATION

The following information was extracted from the records of TLC Limited, a manufacturing company, for a component used in production during May $2024$:

$\backslash$begin$\{$tabular$\}\{|$c$|$l$|\}$

$\backslash$hline Date & Transaction details $\backslash \backslash$

$\backslash$hline $01$ & The opening inventory consisted of $12000$ units at R$15$ each. $\backslash \backslash$

$\backslash$hline $04$ & Received an invoice for $19000$ units at R$16$ each. $\backslash \backslash$

$\backslash$hline $05$ & Returned $1000$ damaged units $($purchased $04$ May$)$ to the supplier. $\backslash \backslash$

$\backslash$hline $13$ & Received an invoice for $16000$ units at R$17$ each. $\backslash \backslash$

$\backslash$hline $27$ & An invoice was received for $4000$ units at R$18$ each. $\backslash \backslash$

$\backslash$hline $31$ & $40000$ units were issued to production during May. $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$