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Calculate the value of inventory on january

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Reference no: EM132795846

The following are the details regarding the receipts and issues of material X in respect of a firm in the month of January 2020

Jan 1 Purchases 100 units @ Sh40 per unit
Jan 8 Purchase 200 units @ Sh50 per unit
Jan 20 Issues 100 units
Jan 25 Purchases 200 units @ Sh60 per unit
Jan 31 Issues 200 units

Problem 1: Assuming the firm follows the perpetual inventory system for maintaining its stores. Calculate the value of inventory on January 31 according to the Weighted Average Price Method

Reference no: EM132795846

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