A business applies the first in first out (FIFO) inventory system. The information below is given. 1 March: Opening inventory, 1200 units at $10.00 12 March: Purchases, 2000 units at $10.20 22 March: Sales, 3000 units at $15.00 26 March: Purchases, 800 units at $10.50 The inventory held on 31 March could be sold for $10800. What is the value of inventory that should be shown in the statement of financial position at 31 March?
- A$10000
- B$10425
- C$10440
- D$10800