Accounting 9706 · AS & A Level · Traditional costing methods

Traditional costing methods — practice question

The changes in a business's inventory over a three-month period are given below. Dates and receipts: - January: 100 units at $5 per unit - January: 200 units at $6 per unit - February: issues of 50 units - March: issues of 200 units The business applies the first in first out (FIFO) method for inventory valuation. What was the inventory value at the end of March?

  • A$250
  • B$275
  • C$283
  • D$300

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