Task -1
Management Accounting Costing and Budgeting. Classify different types of cost.
Task -2
Estimate inventory values using different methods.
Scenario-1
The Breeze Trading Company discloses the following information about the stock for the month of August 2014:
|
Date
|
Issosi.Receipt
|
Units
|
Cost per unit ($)
|
|
Beginning of August
|
Opening Balance
|
600
|
S
|
|
10* august
|
Sale
|
400
|
|
|
11* August
|
Purchases
|
1600
|
6
|
|
15* August
|
Sale
|
1000
|
|
|
18* August
|
Sale
|
400
|
|
|
20* august
|
Purchases
|
600
|
6.50
|
|
24"' August
|
Purchases
|
200
|
7.00
|
|
27* August
|
Sale
|
800
|
|
|
28* August
|
purchases
|
SOO
|
6.75
|
|
30* August
|
Sale
|
300
|
|
|
31* August
|
Sale
|
200
|
|
a) Estimate the Value of Inventory at the end of August using different methods.
b) What will be the difference in the inventory value at the end of August using the methods above and why?