question archive The following stocks were taken into stores as follows: 1st October 2020 5,000 Unit RM35/unit 15th October 750 Unit RM27/unit 2020 1
The following stocks were taken into stores as follows: 1st October 2020 5,000 Unit RM35/unit 15th October 750 Unit RM27/unit 2020 1
Subject:AccountingPrice: Bought3
The following stocks were taken into stores as follows: 1st October 2020 5,000 Unit RM35/unit 15th October 750 Unit RM27/unit 2020 1. There were no opening stocks. 2. On 31st October 2020, 5750 units were issued to production. Required: Calculate the amount that would be charged to production on 31st October 2020 for the issue of material on that date using each of the following methods of material pricing. a. FIFO (First in, First Out) b. Continuous weighted average.
