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2. Consider the following transactions and demonstrate FIFO pricing methods of inventory. Transactions during July 2021:- Date Item Units Unit cost (OMR) 1st July opening

2. Consider the following transactions and demonstrate FIFO pricing methods of inventory. Transactions during July 2021:- Date Item Units Unit cost (OMR) 1st July opening stock 200 3.00 3rd July Receipt 300 3.20 4th July Issue 250 What is the value of issue on 4th July 2021 using FIFO method? (2 Points) OMR 160 OMR 760 CMR 600 CMR 650

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