A-LevelAccountingPreparation of financial statements9706/12 · May/June 2015 · Q161 Mark

A business bought and sold the following items of inventory. month details units cost per unit $ January purchased 30 2.00 February purchased 20 2.50 March sold 10 – It uses the AVCO method of inventory valuation. What was the value of inventory at the end of March?

A$20

B$22

C$88

D$90

✓ Correct answer

C: $88

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2015 Paper 1 Variant 2, question 16.

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