A-LevelAccountingInventory Valuation (LIFO/FIFO/AVCO)Oct/Nov 2009Paper 1 Q111 Mark
The stock records of a business show the following information for product X during January. 1 Jan opening balance amount in units 200 cost per unit $ 5 15 Jan receipts into stock amount in units 150 cost per unit $ 6 30 Jan stock issued to production amount in units 250 cost per unit $ - What is the value of stock held at 31 January using the Last In First Out (LIFO) method?
A$500
B$600
C$1300
D$1400
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of inventory valuation (lifo/fifo/avco) within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep