alleryStart learning →A trader buys 100 units at Rs 20 and then 100 units at Rs 25, and sells 150 units. What is the FIFO cost of goods sold?
ARs 3,250
BRs 3,500
CRs 3,375
DRs 3,000
Answer & Solution
Correct answer: A. Rs 3,250
FIFO expenses 100 units at 20 and 50 units at 25, which is 2,000 + 1,250 = 3,250.
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