3) Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC. a. 220 units b. 320 units c. 450 units d. 280 units

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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3) Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC.
a.
220 units
b.
320 units
c.
450 units
d.
280 units
The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March
2021, the company follows FIFO method for material issue pricing:
1st March 2021: Opening balance - 50 units @ RO 4
Receipts:
5th March: 100 units @ RO 5
12th March: 200 units @ RO 4.50
24th March: 150 units @ RO 3
Issues:
2nd March: 30 units
18th March: 150 units
30th March: 100 units
Use the above information and answer 32, 33 and 34 MCQS
Transcribed Image Text:The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance - 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 32, 33 and 34 MCQS
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