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Average Cost (AVCO) Method
sathishmadhav
Member Posts: 71
Dear All
I have a question on Average Cost (AVCO) Method.
Item X has following ledger entries.
January 1st Beginning Inventory 2 units @ $1000.00 per unit ie. amout $2000
June 30th Consumed 2 units @ $1000.00 per unit ie. amout $2000.
December 31st Purchase 2 units @ $100,000.00 per unit ie. amout $200,000
No further consumption entries posted after 31st December.
Question: What should be the decreases amount & closing inventory amount in inventory valuation report.
qty amount
Beginning inventory 2 $2,000
Increases 2 $200,000
Decreases 2 ??
Closing Inventory 2 ??
Thanks
satish
I have a question on Average Cost (AVCO) Method.
Item X has following ledger entries.
January 1st Beginning Inventory 2 units @ $1000.00 per unit ie. amout $2000
June 30th Consumed 2 units @ $1000.00 per unit ie. amout $2000.
December 31st Purchase 2 units @ $100,000.00 per unit ie. amout $200,000
No further consumption entries posted after 31st December.
Question: What should be the decreases amount & closing inventory amount in inventory valuation report.
qty amount
Beginning inventory 2 $2,000
Increases 2 $200,000
Decreases 2 ??
Closing Inventory 2 ??
Thanks
satish
0