An organisation’s inventory at 1 July is 15 units at $3.00 each. The following movements occur: 3 July 20X4 5 units sold at $3.30 each 8 July 20X4 10 units bought at $3.50 each 12 July 20X4 8 units sold at $4.00 each What would be the closing inventory valuation at 31 July using the FIFO method of inventory valuation?
A、$31.50
B、$36.00
C、$39.00
D、$41.00
A、$31.50
B、$36.00
C、$39.00
D、$41.00
【参考答案及解析】
The closing inventory of 12 items (15.5 + 10.8) comprise $ 10 items at $3.50 each 35.00 2 items at $3 each 6.00 Cost on a FIFO basis is 41.00
The closing inventory of 12 items (15.5 + 10.8) comprise $ 10 items at $3.50 each 35.00 2 items at $3 each 6.00 Cost on a FIFO basis is 41.00