The following information relates to Multiple Food Farms Enterprises. The farm enterprise deals with the cultivation, harvest and sale of beans and yams. On 1 September 2018, had an opening inventory of crops (beans, yams) for sale as follows:
Beans – 800 bags
Yams – 969 tubers
During the period ended 31 December 2018, the farm sold a total of 430 bags of beans and 760 tubers of yams as follows:
2018
10 September: 75 bags of beans
15 September: 120 tubers of yams
20 September: 150 tubers of yams
12 October: 98 bags of beans
20 October: 256 tubers of yams
30 October: 116 bags of beans
10 November: 198 bags of beans
11 November: 95 bags of beans
18 November: 281 tubers of yams
26 November: 56 tubers of yams
14 December: 80 bags of beans
18 December: 58 tubers of yams
20 December: 97 bags of beans
20 December: 48 tubers of yams
Required:
Prepare the inventory ledger card to record the changes in marketable inventories (that is, beans and yams) for the period ended 31 December 2018.
See the suggested answer to practice activity 16.6 here.
Suggested answer to practice activity 16.6
Multiple Food Farms Enterprises
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