Homework Answers
Let us take the given values here,
- Opening inventory is 2,000 units
- Second line in the question indicates that closing balance should be 25% higher than opening balance.
- units to be sold are 24,000
first let us calculate closing inventory
closing inventory = opening inventory + 25% of opening inventory
= 2000 + 2000x 25/100
= 2000 + 500
= 2500
Now let us consider the equation for Cost of goods sold.
No of units sold = opening inventory + Produced this year - Closing Inventory
24,000 = 2000 + Units Produced -2500
now let us keep the unknown value of units produced to the right side of the equation and move the remaining values of the equation to left side by inverting their sign. this gives us
24,000 - 2,000 + 2500 = Units produced
Therefore the Number of units of Product R to be produced next year is 24,500 units ( Choice "C" of this question )
Hope this explains the answer.
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