A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2018 · Q231 Mark
A retailer uses the FIFO method for inventory valuation. The following information is available. June 1 opening inventory 300 units at $12 per unit $3600 June 10 purchased 1000 units at $12.50 per unit $12500 June 21 sold 1200 units for $16 each $19200 June 28 purchased 700 units at $13 per unit $9100 What was the value of the inventory at 30 June?
A$6000
B$9850
C$10080
D$10350
✓ Correct answer
D: $10350
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