A-LevelAccountingInventory ValuationOct/Nov 2016Paper 1 Q221 Mark
A business uses the AVCO method of inventory valuation. The following transactions took place. 1 March purchased 1000 units at $65 per unit 2 March purchased 1200 units at $66 per unit 4 March sold 1850 units at $68 per unit What was the value of closing inventory?
A$22750
B$22941
C$23100
D$23800
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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