Maqur Cleaning Services supplies its employees with protective clothing. One such item is protective gloves.

Records from the stores department for January showed:

1 Jan Opening inventory 150 pairs @ $2 each

7 Jan Purchases 40 pairs @ $1.90

15 Jan Issues 30 pairs

29 Jan Issues 35 pairs

What is the value of the issues and the closing inventory if the FIFO method is used?

a.

$200 Issues and $100 Inventories

b.

$125 Issues and $246 Inventories

c.

$246 Issues and $125 Inventories

d.

$100ssues and $200 Inventories