Accounting 9706 · AS & A Level · Traditional costing methods

Traditional costing methods — practice question

The information below is given for a business’s inventory. July $1$: opening inventory of $60$ units at $4.50$ per unit July $15$: $40$ units issued July $23$: $120$ units purchased at $5.20$ per unit July $29$: $65$ units issued What is the inventory value on $31$ July using AVCO?

  • A$337.50$
  • B$363.75$
  • C$382.50$
  • D$390.00$

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