Answer to Question #144616 in Other for Amogelang

Question #144616
Combo Manufacturers manufacture and sell photo copy machines. The ink cartridges are installed in the
machines during the production process. Combo Manufacturers applies the weighted average method when
evaluating inventory. The following transactions occurred regarding cartridges during the month of July.
01 Cartridges on hand 620u @R1 550.50 per unit
04 Issued to production 300u
09 Purchased 200u @R1 600 per unit
12 Issued to production 500u
19 Return to storeroom 50u (issued on 12 July)
23 Purchased 300u @R1700 per unit
26 Issued to production 250u
31 Return to supplier 20u (purchased on 23 November)
Compile an inventory card calculating the value of closing inventory. Also show the value of total purchases
and total material issued to production.
Expert's answer
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