Question: Short question 4 Date Inventories 1st March 2022 Opening inventories -4,000 units at 40 per unit 4th March 2022 Purchases -1,000 units at 50 per

Short question 4 Date Inventories 1st March 2022 Opening inventories -4,000 units at 40 per unit 4th March 2022 Purchases -1,000 units at 50 per unit 25th March 2022 Sales - 1,500 units Required Calculate the value of the closing inventories for the period ending 31st March 2022 using the Average Cost (AVCO) method. (2 marks)

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