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Using LIFO method of stock valuation, analyze the issue quantities and their pri...


Question

Using LIFO method of stock valuation, analyze the issue quantities and their prices

Options

A) 260 units at ₦1.50

B) 700 units at ₦1.50

C) 200 units at ₦1.50 and 500 units at ₦1.00

D) 350 units at ₦1.50 and 350 units at ₦1.00

The correct answer is A.

Explanation:

given that a maximum of 260 units can be taken from the last receipt, the balance of 440 units (700-260) would be issued at ₦1.00 which would be taken from the first materials received (100 units)

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Dicussion (1)

  • given that a maximum of 260 units can be taken from the last receipt, the balance of 440 units (700-260) would be issued at ₦1.00 which would be taken from the first materials received (100 units)

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