QUESTION ONE 1.1 Calculate the economic order quantity (EOQ) per annum. Economic order quantity Startrek Secondary School purchases 700 math's sets per annum. The cost of each math set is N$80. Each set is sold for N$100. The cost of placing a single order is N$45. The holding cost is 11% of the unit purchase price. 1.2 Calculate the value of closing inventory using the Weighted average cost inventory valuation method. Inventory valuation The following information concerning blankets appeared in the journal of Casio Traders for the month of September 2022: Date Units Cost per Unit N$85 Details Opening Inventory 1 20 7 Purchases 23 N$90 16 Purchases 33 N$95 25 Purchases 18 N$100 31 Sales for the 69 month
QUESTION ONE 1.1 Calculate the economic order quantity (EOQ) per annum. Economic order quantity Startrek Secondary School purchases 700 math's sets per annum. The cost of each math set is N$80. Each set is sold for N$100. The cost of placing a single order is N$45. The holding cost is 11% of the unit purchase price. 1.2 Calculate the value of closing inventory using the Weighted average cost inventory valuation method. Inventory valuation The following information concerning blankets appeared in the journal of Casio Traders for the month of September 2022: Date Units Cost per Unit N$85 Details Opening Inventory 1 20 7 Purchases 23 N$90 16 Purchases 33 N$95 25 Purchases 18 N$100 31 Sales for the 69 month
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
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