The records of Derajat Manufacturing Co. Ltd. show the following data relative to material no: E-4:
Balance: February, 1, 1967 700 units at Rs. 20.50
Purchases: February 3, 1967 800 units at Rs. 21.00
12, 1967 400 units at Rs. 22.00
24, 1967 200 units at Rs. 21.50
Issued: February 2, 1967 500 units
18, 1867 600 units
28, 1967 200 units
Required: Calculate the moving average cost of the material issued and also calculate the cost of inventory balance.
Solution:
Cost of materials issued:
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