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A wholesaler had an opening inventory of 750 units of Geronimo valued at 80 each on 1st February. The following receipts and sales were recorded
A wholesaler had an opening inventory of 750 units of Geronimo valued at 80 each on 1st February.
The following receipts and sales were recorded during February:
4FebruaryReceived 180 units at a cost of 85 per unit.
18FebruaryReceived 90 units at a cost of 90 per unit
24FebruarySold 852 units at a p[rice of 110 per unit
Using the FIFO valuation method, what was the cost of the units of geronimo sold on 24 February?
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