Use the information below to answer this question Date.............QTY. .....RATE........TOTAL ...............(Units).....N...........N January 2nd.....500........25..........12500 March 7th.......250........28..........7000...
FINANCIAL
JAMB 2002
Use the information below to answer this question
Date.............QTY. .....RATE........TOTAL
...............(Units).....N...........N
January 2nd.....500........25..........12500
March 7th.......250........28..........7000
Issues were made as follows:
Date............QTY. (uNITS)
January 9th .....200
February 14th ...200
March 11th ......200
The closing stock on March 11th by LIFO valuation is
- A. N4200
- B. N2700
- C. N4500
- D. N3900
Correct Answer: A. N4200
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