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Use the information below to answer this questionDate.............QTY. .....RATE...


Question

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

Options

A)
₦4200
B)
₦2700
C)
₦4500
D)
₦3900

The correct answer is A.


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