alleryStart learning →Opening stock 50 units at Rs 100; purchase 150 units at Rs 110. 120 units are issued. Closing stock under FIFO?
ARs 8,600
BRs 8,000
CRs 8,300
DRs 8,800
Answer & Solution
Correct answer: D. Rs 8,800
FIFO issues 50 at Rs 100 and 70 at Rs 110, leaving 80 units at Rs 110, which is Rs 8,800.
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