The trader Cafés Torrélia resells green coffee in bags and applies weighted average cost, calculated over the whole period. For 20X1: opening inventory of 1,000 units bags at 20 per bag; purchases of 3,000 units bags at 24 per bag; sales of 2,500 units bags. Calculate the weighted average unit cost, the cost of sales and the cost of closing inventory.
- Opening inventory (bags)
- 1,000
- Unit cost of opening inventory
- 20
- Bags purchased
- 3,000
- Unit cost of purchases
- 24
- Bags sold
- 2,500