AI Wardi Lighting buys and sells LED lamps. During the year, Al Wardi sold 20 lamps. Calculate the value of ending inventory according to FIFO method. Purchases No of lamps purchased Cost/Unit October 2020 8 50 November 2020 10 85 December 2020 100 a. RO 350 b. RO 700 C. RO 1450 d. RO 1800

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Al Wardi Lighting buys and sells LED lamps. During the year, Al Wardi sold 20 lamps. Calculate the value of
ending inventory according to FIFO method.
Purchases
No of lamps purchased
Cost/Unit
October 2020
50
November 2020
10
85
December 2020
9
100
a.
RO 350
b. RO 700
C.
RO 1450
d. RO 1800
Transcribed Image Text:Al Wardi Lighting buys and sells LED lamps. During the year, Al Wardi sold 20 lamps. Calculate the value of ending inventory according to FIFO method. Purchases No of lamps purchased Cost/Unit October 2020 50 November 2020 10 85 December 2020 9 100 a. RO 350 b. RO 700 C. RO 1450 d. RO 1800
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