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A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2024 · 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

D: $300

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About this question

Topic
Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source
A-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 24.

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