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Mahube Limited provides the following information relating to inventory for the financial year. Opening inventory on 1 January Purchases on 25 February Purchases on
Mahube Limited provides the following information relating to inventory for the financial year. Opening inventory on 1 January Purchases on 25 February Purchases on 20 June Purchases on 10 October Total sales 120 units @R100 each 100 units @ R110 each 150 units @ R120 each 90 units @ R130 each 300 units at R250 each Based on the First in First Out (FIFO) method, closing stock for the year would be: OA. R98 700 OB. R20 800 OC. R20 100 OD. R11 700
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