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The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.?
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The following are details supplied by Agni Ltd. in respect of it's raw...
Date Receipts Price per unit Issue
1/12 2000 5 -
7/12 1000 6 -
10/12 - - 2500
15/12 2000 6.50 -
31/12 - - 2200
Shortage: 100 units on 31/12/2005
Calculation:
To calculate the value of the closing stock using the simple average principle, we need to determine the average price per unit based on the available data.
First, we calculate the total receipts and the total units issued during the month of December:
Total Receipts = 2000 + 1000 + 2000 = 5000 units
Total Units Issued = 2500 + 2200 = 4700 units
Next, we calculate the weighted average price per unit by dividing the total value of receipts by the total number of units:
Weighted Average Price per Unit = Total Value of Receipts / Total Units
To calculate the total value of receipts, we need to multiply the quantity of each receipt by its corresponding price per unit:
Total Value of Receipts = (2000 * 5) + (1000 * 6) + (2000 * 6.50) = 10000 + 6000 + 13000 = 29000
Now, we can calculate the weighted average price per unit:
Weighted Average Price per Unit = 29000 / 5000 = 5.80
Finally, we can calculate the value of the closing stock by multiplying the weighted average price per unit by the remaining units on hand:
Closing Stock Value = Weighted Average Price per Unit * Remaining Units
The remaining units on hand can be calculated by subtracting the total units issued from the total receipts:
Remaining Units = Total Receipts - Total Units Issued
= 5000 - 4700
= 300 units
Closing Stock Value = 5.80 * 300 = 1740
Therefore, the value of the closing stock using the simple average principle is $1740.
1/12 2000 5 -
7/12 1000 6 -
10/12 - - 2500
15/12 2000 6.50 -
31/12 - - 2200
Shortage: 100 units on 31/12/2005
Calculation:
To calculate the value of the closing stock using the simple average principle, we need to determine the average price per unit based on the available data.
First, we calculate the total receipts and the total units issued during the month of December:
Total Receipts = 2000 + 1000 + 2000 = 5000 units
Total Units Issued = 2500 + 2200 = 4700 units
Next, we calculate the weighted average price per unit by dividing the total value of receipts by the total number of units:
Weighted Average Price per Unit = Total Value of Receipts / Total Units
To calculate the total value of receipts, we need to multiply the quantity of each receipt by its corresponding price per unit:
Total Value of Receipts = (2000 * 5) + (1000 * 6) + (2000 * 6.50) = 10000 + 6000 + 13000 = 29000
Now, we can calculate the weighted average price per unit:
Weighted Average Price per Unit = 29000 / 5000 = 5.80
Finally, we can calculate the value of the closing stock by multiplying the weighted average price per unit by the remaining units on hand:
Closing Stock Value = Weighted Average Price per Unit * Remaining Units
The remaining units on hand can be calculated by subtracting the total units issued from the total receipts:
Remaining Units = Total Receipts - Total Units Issued
= 5000 - 4700
= 300 units
Closing Stock Value = 5.80 * 300 = 1740
Therefore, the value of the closing stock using the simple average principle is $1740.
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The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.?
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The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.?.
The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.?.
Solutions for The following are details supplied by Agni Ltd. in respect of it's raw material for the month of December 2005. Date. Receipts. Price perunit. Issue 1/12. 2000. 5. - 7/12 1000. 6. - 10/12. - - 2500 15/12. 2000. 6.50 - 31/12 - - 2200 On 31/12/2005 a shortage of 100 units was found. Using the data given in problem. The value of closing stock, using simple average priciple.? in English & in Hindi are available as part of our courses for CA Foundation.
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