A-LevelAccountingInventory ValuationOct/Nov 2024Paper 1 Q241 Mark
The inventory movements of a business in a three-month period are shown. receipts month | units | cost per unit | issues units January | 100 | $5 | January | 200 | $6 | February | | | 50 March | | | 200 The business uses the first in first out (FIFO) method of inventory valuation. What was the value of inventory at the end of March?
A$250
B$275
C$283
D$300
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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