Financial Accounting - Old Questions

10. What is the value of closing stock under FIFO method?

Purchase 3,000 @ Rs.20 per units on 1st January, Issued 500 units on 10 January,

again 23 January purchase 1500 units @Rs.22 per unit. On January 30, issue 2000

units.

a) Rs. 43,000    b) Rs.50,000    c) Rs.41,333    d) Rs.45,000