From the following, determine the value of the closing st...
From the following, determine the value of the closing stock using:
Feb 1 purchased 200 units @ ₦2.00 each
Feb 3 purchased 100 units @ ₦1.00 each
Feb 4 issued 120 units @ ₦2.00 each
Feb 5 purchased 50 units @ ₦3.00 each
Feb 6 issued 80 units @ ₦2.00 each
Feb 6 issued 20 units @ ₦1.00 each
330
420
230
320
Correct answer is C
Feb1 : bought (200 × 2) = 400
feb 3 : bought (100 × 1) = 100 500
Feb 4 : issued (120× 2) = (240)
260
Feb 5: bought (50 x 3 = 150 410
Feb 5: issued (80 x 2) = (160)
'' '' '' (20x 1) = (20)
230
The value of the closing stock is ₦230
The capital of not-for profit making organization is ...
Recurrent expenditures are expenses for the period not exceeding ...
\(\begin{array}{c|c} & \text{Dr GH¢} & \text{Cr GH¢} \\ \hline Advertising & 3...
The equivalent of a club's Receipt and payment account is ...
Which of the following is true of trade discounts? ...
Which of the following are advantages of departmental accounts? ...