For the month of April, 2021, the opening stock of the company ABC was 200 units @ 10 each. Purchases: April 05, 2021 300 units @ 12 each April 08, 2021 400 units @ 08 each April 20, 2021 500 units @ 10 each Issues: April 06, 2021 200 units @ 12 each April 10, 2021 300 units @ 12 each April 16, 2021 200 units @ 12 each April 25, 2021 300 units @ 12 each Required: Provide closing stock using last in first out inventory valuation method

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A: First-in First-Out Method - The first-in first-out (FIFO) method is an inventory accounting method…

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A: FIFO: Under FIFO, inventory purchased first are assumed as sold first, while recently purchased…

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Q: Gale Company has the following inventory and purchases during the fiscal year ended December 31,…

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