30. A company uses the first-in-first-out (FIFO) method of valuing inventory and makes the following purchases and issues of Material M. Date Units 1 July purchase 400 8 July purchase 750 12 July purchase 700 22 July issue 950 30 July issue 400 The inventory valuation of Material M on July 31 is:
30. A company uses the first-in-first-out (FIFO) method of valuing inventory and
makes the following purchases and issues of Material M.
Date Units
1 July purchase 400
8 July purchase 750
12 July purchase 700
22 July issue 950
30 July issue 400
The
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
A company uses the first-in-first-out (FIFO) method of valuing inventory and makes the following purchases and issues of Material M.
Date
1 July – purchase
8 July – purchase
12 July – purchase
22 July – issue 950 30 July – issue 400
Units Value £ 400 940 750 1,875 700 1,680
The
A. £1,190
B. £1,200
C. £1,215
D. £1,225
what's the answer
by Bartleby Expert
