On January Ms Plummer commenced a small business to trade clothing. She invested some
funds in the business and during a month period, the following transactions took place.
Receipts Dispatch
Date Purchases
units
Total cost
$
Date Sales units Total value
$
January
Opening stock
February
January April
March May
The boxes containing the clothes are stored in an office that Ms Plummer rented and the closing
stock based on the stocktaking amounted to units. Other expenses incurred, and paid for in
cash, during the period amounted to $
Required:
a Calculate the value of the material issues for the period and the value of the closing stock
at the end of May, using the following methods of pricing
i firstin firstout,
ii lastinfirstout
iii weighted average calculations to two decimal places only
