Compile a stock ledger card using fifo inventory valuation

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Reference no: EM132618944

Afcon Ltd uses a direct material (Product code: RM 005) in the production of their finished product.

The following transactions took place during the month of February 2020:

01/02/2020 Balance of 50 units at R20.00 each.

10/02/2020 Purchased 75 units at R25.00 each from Reach Ltd on credit.

19/02/2020 Purchased 25 units at R27.50 each for cash.

22/02/2020 Issued 80 units into production.

25 /02/2020 Returned 10 units bought on the 10/02/2020, to Reach Ltd.

28/02/2020 Received 5 units back from production.

Required:

Problem 1: Compile a stock ledger card for RM 005 using the FIFO inventory valuation method.

The following information relates to an article manufactured by Betok Ltd:

Annual requirement:     32,400 units

Cost per order:            R96

Carrying cost per unit: 24%

Cost per unit:           R18

Required:

Problem 2: Calculate the EOQ

Reference no: EM132618944

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