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 cost of goods sold of Algo, using the FIFO assumption?
A) $2 640
B) $2 700
C) $2 720
D) $2 400

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 cost of goods sold of Algo, using the FIFO assumption?
A) $2 640 
B) $2 700 
C) $2 720 
D) $2 400

Quizplus · Accepted Answer

The Answer is C

Diligent Ltd Had Five Units of the Commodity Algo on Hand