Answer Happy

Candy Candles (Pty) Ltd “Candy Candles” is a retailer of candles
in Johannesburg. Candy Candles uses a perpetual inventory system.
The company recorded the following purchases and sales in respect
of their vanilla fragranced candles in the month of March 2022:
Date
Detail
Quantity (units)
Price (price/unit)
2
Purchases
900
2,82
3
Sold
1 300
5
Purchases
1 700
2,88
12
Returned to supplier
(purchased 5 March)
- 250
16
Sold
395
20
Returned to supplier
(Purchased on 5 March)
- 200
23
Purchases
2 700
2,94
30
Sold
1 300
There were 800 vanilla candles at R1 780 available on 28
February 2022.
REQUIRED
Determine the value of the closing stock for Candy Candles (Pty)
Ltd for the month of March using the weighted average method. Use
the format below:
Complete the table below, type in the correct amounts and
numbers in the white cells. Where figures are entered do not
enter the rand symbol and ensure that numbers are entered as
follows for example R 5 500 is entered as 5 500, round of the
numbers to 2 decimal place as may be required. Answers will be
marked incorrect if the instructions are not followed.
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Number
How its to be entered on the system
1900
1 900
3,7
3.70 OR 3,70
3,777
3.78 OR 3,78
-500
-500 OR (500)