MAXIBEPEARL
May 4, 2007, 06:03 AM
Bought Sold
January 40 at £30 each June 30 for £68 each
April 20 at £44 each September 14 for £60 each
19 Based on the above figures, what is the closing inventory value that would be shown in the Balance Sheet using FIFO?
a. £480
b. £704
c. £700
d. £1088
e. £960
January 40 at £30 each June 30 for £68 each
April 20 at £44 each September 14 for £60 each
19 Based on the above figures, what is the closing inventory value that would be shown in the Balance Sheet using FIFO?
a. £480
b. £704
c. £700
d. £1088
e. £960