Accounts > 2011 > 20
JAMB UTME
Use the information below to answer this question.
| June 30 | closing stock 100 units at ₦90 |
| July 8 | purchased 200 units at ₦95 |
| July 10 | sold 160 units |
| July 17 | returned 80 faulty units purchased at ₦95 |
| July 18 | purchased 200 units at ₦105 |
| July 20 | sold 180 units |
| July 28 | purchased 200 units at ₦110 |
| July 29 | sold 120 units |
| July 30 | sold 100 units |
What is the value of stock as at the end of July 10 using FIFO?
A.
₦13,300
B.
₦14,400
C.
₦15,200
D.
₦12,600
Answer: A
To see detailed solution to this question and thousands of other questions offline, download TestDriller UTME. Practice rigorously for UTME, enjoy educational games, summary of JAMB literature books, compete with your peers, win prizes and more.
09037778195