An entity imports kitchen equipment from China and sells locally.Purchases were; January 20,000 units at €2.5 each,March 25,000 units at €3.0 each,July 30,000 units at €3.5 each.Sales were; May 25,000 units and November 30,000 units.Using FIFO what is the value of inventory?
A)€650
B)€700
C)€750
D)€780

Question

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The Answer of An entity imports kitchen equipment from China and sells locally.Purchases were; January 20,000 units at €2.5 each,March 25,000 units at €3.0 each,July 30,000 units at €3.5 each.Sales were; May 25,000 units and November 30,000 units.Using FIFO what is the value of inventory?
A)€650
B)€700
C)€750
D)€780

An Entity Imports Kitchen Equipment from China and Sells Locally