Sophie deals in DVD players of the same make and model. At the commencement of the year on 1 January she held 40 units purchased for £30 each. She sells each unit for £60. Her sales in the year amounted to £12,000. Her purchases during the year are stated on the left. Ascertain the cost of closing inventory on each cost-flow assumption stated on the right.

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FIFO £1,950 £2,000 C £1,950 d £2,000 a b Weighted average £1,650 £2,400 £2,400 £1,650