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Diligent Ltd had 10 units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: Purchases
Diligent Ltd had 10 units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: Purchases Sales Opening balance Sep 1 10 units @ $200 Sep 3 Sep 7 14 units 10 units @ $240 6 units @ $260 12 units @ $200 Sep 27 Sep 12 Sep 25 10 units What was the value of ending inventory of Algo, using the FIFO assumption? Select one: O a. 52 920 O b. $2 800 O c. $2 400 d. $3 000
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