Multiple Choice Questions on Calculate the value of closing stock from the following according to Weighted Average method nb........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Calculate the value of closing stock from the following according to Weighted Average method nb...........

Costing - Phase (I & II) Basics of Cost Control and Analysis
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    Calculate the value of closing stock from the following according to Weighted Average method:  

    1st January, 2018: Opening balance: 50 units @ Rs. 4  

    Receipts: 

    5th January, 2018: 100 units @ Rs. 5  

    12th January, 2018: 200 units @ Rs. 4.50 

     Issues:  

    2nd January, 2018: 30 units 

    18th January, 2018: 150 units 

    Rs. 765 (approx.) 

    Incorrect Answer

    Rs. 805 (approx.) 

    Incorrect Answer

    Rs. 786 (approx.)   

    Correct Answer

    Rs. 700 (approx.)    

    Incorrect Answer
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    Explanation:

    Weighted average method gives due weights to quantity purchased at each price while calculating the average price. It is calculated by dividing total cost of materials in stock by total quantity of materials in stock.

    Weighted average price=

    Total cost of material in stock/total quantity of that stock.

    In give problem, closing stock will be:  170 units  for 786 value

    By: Vikas Goyal
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