快速查题-ACCA英国注册会计师试题

Appleby buys and sells inventory during the month of August as follows:

Opening inventory                                                                   100 units                         $2.52/unit

4 August                                                Sales                         20 units 

8 August                                            Purchases                     140 units                         $2.56/unit

10 August                                             Sales                          90 units 

18 August                                          Purchases                    200 units                         $2.78/unit

20 August                                           Sales                          180 units 

The periodic weighted average for the month is calculated as follows:

Total value of inventory (opening inventory plus purchase costs during the month) divided by total units (opening inventory plus purchase costs during the month).Which of the following statements is true?

In the year ended 31 August 20X4, Aplus; records show closing inventory of 1,000 units compared to 950 units of opening inventory. Which of the following statements is true assuming that prices have fallen throughout the year?

 Inventory movements for product X during the last quarter were as follows:

 January                                  Purchases                              10 items at $19.80 each

 February                                 Sales                                      10 items at $30 each

 March                                     Purchases                               20 items at $24.50

                                                Sales                                       5 items at $30 each

Opening inventory at 1 January was 6 items valued at $15 each.

What would the Gross profit be for the quarter using the weighted average cost method?

An organisation’s inventory at 1 July is 15 units at $3.00 each. The following movements occur:

3 July 20X4                         5 units sold at $3.30 each

8 July 20X4                        10 units bought at $3.50 each

12 July 20X4                        8 units sold at $4.00 each

What would be the closing inventory valuation at 31 July using the FIFO method of inventory valuation?

In times of rising prices, the valuation of inventory using the First In First Out method/ as opposed to the Weighted Average Cost method, will result in which ONE of the following combinations?

A company determines its order quantity for a component using the Economic Order Quantity (EOQ) model.

What would be the effects on the EOQ and the total annual ordering cost of an increase in the annual cost of holding one unit of the component in inventory?

A company uses the Economic Order Quantity (EOQ) model to establish reorder quantities. The following information relates to the forthcoming period:

Order costs = $25 per order Holding costs = 10% of purchase price Annual demand = 20,000 units Purchase price = $40 per unit EOQ = 500 units No safety inventory is held.

What are the total annual costs of inventory (i.e. the total purchase cost plus total order cost plus total holding cost)?

A large store selling office furniture stocks a popular chair for which the following information is available:

Annual demand:                    4,000 chairs

Maximum inventory:              75 chairs

Minimum inventory:               20 chairs

Lead time:                              5 days

Re-order quantity：            100 chairs

What is the average inventory level?

A company uses an item of inventory as follows.

Purchase price                            $25 per unit

Annual demand                           1,800 units

Ordering cost                               $32

Annual holding cost                    $4.50 per unit

EOQ                                            160 units

What is the minimum total cost assuming a discount of 2% applies to the purchase price and to holding costs on orders of 300 and over?

A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and sales were recorded during January.

Date                           2 Jan                     12 Jan                  21 Jan                     29 Jan

                                                                 400

Issues                         250                                                      200                            75

The purchase cost of receipts was $25.75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of January.