alleryStart learning →A shop buys 100 units at Rs 30, then 80 units at Rs 34. It sells 160 units. What closing stock value results under FIFO?
ARs 600
BRs 680
CRs 720
DRs 640
Answer & Solution
Correct answer: B. Rs 680
FIFO sells 100 at 30 and 60 at 34, leaving 20 units at 34 which is Rs 680.
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