The following transactions were extracted from the records of Yomunde Limited. The accounting policy adopted by the organisation to value inventory is Weighted average method.
Date Details
Cost per unit (N$)
Total value (N$) Units
1 June Opening balance 5.00 500
3 June Receipts 4.80 1 440
5 June Issues 220
12 June Receipts 5.20 884
24 June Issues 300
Note: cost per unit should be rounded up to two decimals.
Required:
Calculate the total value of units issued on 5 June.
