alleryStart learning →Stock: 100 at Rs 10, 200 at Rs 12, 100 at Rs 14. How much higher is LIFO than FIFO cost for 250 issued?
ARs 300
BRs 500
CRs 400
DRs 200
Answer & Solution
Correct answer: C. Rs 400
LIFO issue cost is Rs 3,200 and FIFO is Rs 2,800, so LIFO is Rs 400 higher in a rising price series.
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