Question
6. If the first-in, first-out (FIFO) method of pricing is used, what is the value of the issue on Day 7? Day Transaction Units Unit
6. If the first-in, first-out (FIFO) method of pricing is used, what is the value of the issue on Day 7?
| Day | Transaction | Units | Unit price RM | Value RM |
| 1 | Balance b/f | 100 | 5.00 | 500 |
| 3 | Issue | 40 |
|
|
| 4 | Receipt | 50 | 5.50 | 275 |
| 6 | Receipt | 50 | 6.00 | 300 |
| 7 | Issue | 70 |
|
|
A. RM350
B. RM355
C. RM395
D. RM420
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Effective Writing A For Accountants
Authors: Claire B. May, Gordon S. May
11th Edition
0134667387, 9780134667386
