REQUIRED

Complete the following table that would reflect the value of issues to production and inventory

balances

using the first$-$in$-$first out method of inventory valuation:

Date

Purchases Quantity Price Amount

Issues$/$Returns Quantity Price Amount

Balance

Quantity Price Amount

$(4$ marks$)$

INFORMATION

The transactions of Kerman Manufacturers for January $2024$ are as follows:

January Transaction Units

Price per unit

$01$ Opening inventory $4000$

R$3\mathrm{.}00$

$06$ Purchased from a supplier $1600$

R$3\mathrm{.}20$

$20$ Purchased from a supplier $3000$

R$3\mathrm{.}30$

$07$ Issued to production $3200$

$?$

$27$ Issued to production $4000$

$?$

$1\mathrm{.}5$