alleryStart learning →Bought 50 at Rs 20, then 50 at Rs 24; sold 70. FIFO cost of goods sold?
ARs 1,540
BRs 1,600
CRs 1,480
DRs 1,400
Answer & Solution
Correct answer: C. Rs 1,480
FIFO expenses 50 units at Rs 20 and 20 units at Rs 24, giving 1,000 + 480 = Rs 1,480.
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