The business had 400 units in inventory at 1st March 2019 valued at RO 40. On 10th March Purchase made 800 units at RO 60 each. On 31st March Sales made 600 units at RO 80 each. What will be the cost of goods sold value at the end of March 2019 assuming that the business uses FIFO method? a. OMR 64,000 b. OMR 32,000 c. OMR 36,000 d. OMR 28,000

The business had 400 units in inventory at 1st March 2019 valued at RO 40. On 10th March Purchase made 800 units at RO 60 each. On 31st March Sales made 600 units at RO 80 each. What will be the cost of goods sold value at the end of March 2019 assuming that the business uses FIFO method? a. OMR 64,000 b. OMR 32,000 c. OMR 36,000 d. OMR 28,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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