FAC1501
Introductory Financial Accounting
Assignment 02 for Semester 02 (compulsory)
Unique Number 765412
Due: 28 September 2020
Before you answer the questions for this assignment, you must have studied learning units 6 to 11
of your study guide.
Submit this assignment electronically via myUnisa or do it on a mark-reading sheet.
Use the information provided below to answer question 1:
Mahikeng Traders provided you with the following information for the year ended 28
February 2020:
A physical inventory count on 28 February 2020 indicated that inventory on hand was R1
200 000.
1. The cost of sales amount on 28 February 2020 will be …
R
(1) 3 600 000
(2) 3 609 000
(3) 909 000
(4) 3 591 000
(5) 1 509 000
Answer:
Refer to page 242 of the study guide:
R
Inventory (1 March 2019) 2 100 000
Add: Purchases 2 700 000
Carriage on Purchases 9 000
4 809 000
Less: Inventory (28 February 2020) (1 200 000)
Cost of Sales 3 609 000
Introductory Financial Accounting
Assignment 02 for Semester 02 (compulsory)
Unique Number 765412
Due: 28 September 2020
Before you answer the questions for this assignment, you must have studied learning units 6 to 11
of your study guide.
Submit this assignment electronically via myUnisa or do it on a mark-reading sheet.
Use the information provided below to answer question 1:
Mahikeng Traders provided you with the following information for the year ended 28
February 2020:
A physical inventory count on 28 February 2020 indicated that inventory on hand was R1
200 000.
1. The cost of sales amount on 28 February 2020 will be …
R
(1) 3 600 000
(2) 3 609 000
(3) 909 000
(4) 3 591 000
(5) 1 509 000
Answer:
Refer to page 242 of the study guide:
R
Inventory (1 March 2019) 2 100 000
Add: Purchases 2 700 000
Carriage on Purchases 9 000
4 809 000
Less: Inventory (28 February 2020) (1 200 000)
Cost of Sales 3 609 000
