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The closing inventory at 31 December 2017 was 50,800 A new branch of The Best Company plc opened in November 2017 in Moscow. This branch buys and sells one product line. Details of the transactions of the branch are as follows: Sales Purchases 4th November 10 units at 600 each 10th November 5 units 20th November 20 units at 800 each 1st December 15 units 10th December 10 units at 1,000 each 24th December 6 units The manager of the branch has used the first in first out method of stock valuation. The Best Company plc operates a weighted average method of stock valuation for all of its other activities and this should have been used at the new branch