Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: What was the value of ending inventory of Algo, using the FIFO assumption?
A) $1 460
B) $1 480
C) $2 400
D) $1 400

Question

Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September:  What was the value of ending inventory of Algo, using the FIFO assumption?
A) $1 460 
B) $1 480 
C) $2 400 
D) $1 400

Quizplus · Accepted Answer

The Answer of Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September:  What was the value of ending inventory of Algo, using the FIFO assumption?
A) $1 460 
B) $1 480 
C) $2 400 
D) $1 400

Diligent Ltd Had Five Units of the Commodity Algo on Hand