Question
Calculate the valuation of closing stock using simple
average method from the following information: ·        100 units purchased for 20 each ·        200 units purchased for 22 each Sold 250 units at 23 eachSolution
Closing inventory in units = Opening Stock + Purchases – Sales = 100+200 – 250 = 50 units Simple average price =average of price without considering the quantity =  (20+22)/2 = 21 per unit So, valuation of Closing Inventory = 50*21 = 1050Â
More Basic Accounting Concepts Questions
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
What approximate value will replace the question mark (?) in the following?
9.89%...
45.22 of 499.98% + 399.99 ÷ 20.18 = ?
189.23 + 18.11² + ?³ = √841.76 * 28.94
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
What approximate value should come in the place of (?) in the following questions?
...
(8160.42 ÷ 33.73) + 309.79 + ? = 30.2 * 81.84- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
(256.19 ÷ 63.99) 2.05 X (7.99) = 2 ? + 2.05
