A company starts business on 1 January. In that month it buys 300 grecks at 40 each,

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A company starts business on 1 January. In that month it buys 300 grecks at £40 each, then 200 at £50 each. On the last day of the month it sells 400 grecks. If it uses FIFO to value inventory, what is the inventory value at 31 January?

(a) £4,500

(b) £4,000

(c) £5,000

(d) £5,500

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Accounting And Finance For Business

ISBN: 9780273773948

1st Edition

Authors: Geoff Black, Mahmoud Al-Kilani

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Question Posted: Jul 02, 2024 09:01 AM

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A company starts business on 1 January. In that month it buys 300 grecks at 40 each,

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Accounting And Finance For Business

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