Bongi Ltd incurred the following transactions, relating to inventory, during the month of March 2020:...
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Bongi Ltd incurred the following transactions, relating to inventory, during the month of March 2020: 1 March 2020: Opening balance 2 March 2020: Sales 7 March 2020: Purchases 15 March 2020: Sales 25 March 2020: Purchases 30 March 2020: Sales Units 400 100 275 300 500 250 Rand per unit 25 30 27 35 30 36 REQUIRED: Marks (a) Calculate the cost price of closing inventory, using the FIFO method, for both the perpetual and periodic inventories recoding systems, (b) Calculate the cost price of closing inventory, using the weighted average method. for both the perpetual and periodic inventories recording systems 6 14 1201
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