Question
A commercial establishment sells commodity (Q) and during the year it purchased three batches from it as follows: The first payment is 100 units at
A commercial establishment sells commodity (Q) and during the year it purchased three batches from it as follows: The first payment is 100 units at a price of 10 dinars per unit The second batch is 40 units at the price of 5 dinars per unit The third payment is 30 units at 6 dinars per unit Note that the balance of the first period of this commodity was 100 units at a price of 5 dinars per unit, and 170 units of commodity Q were sold at a price of 10 dinars For the unit, the facility uses the periodic inventory system Obligation: Valuation of merchandise at the end of the period according to The method of FIFO
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