Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system. 01-April Beginning Inventory50 units @ R15 per unit5 Purchase135 units @ 20 per unit9 Issue to production95 units11 Purchase30 units @ R16 per unit16 Purchase78 units @ R17per unit20 Issue to production125 units 30 Issue to production65 units

Inventory valuation is based on the method of flow used by the organization. It can be the first in…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 5EB: Bleistine Company had the following transactions for the month. Calculate the ending inventory...

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Use the following information to calculate the value of inventory on hand on April 30 and issue price to production during April using FIFO inventory system.

01-April	Beginning Inventory	50 units @ R15 per unit
5	Purchase	135 units @ 20 per unit
9	Issue to production	95 units
11	Purchase	30 units @ R16 per unit
16	Purchase	78 units @ R17per unit
20	Issue to production	125 units
30	Issue to production	65 units

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