alleryStart learning →A firm buys 50 units at Rs 20 and then 50 at Rs 24. Pricing a 60 unit issue by last-in first-out gives what cost?
ARs 1,240
BRs 1,440
CRs 1,400
DRs 1,320
Answer & Solution
Correct answer: C. Rs 1,400
LIFO charges 50 units at Rs 24 and 10 at Rs 20, which is 1,200 plus 200 equal to Rs 1,400.
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