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Use the information below to answer questions .Aug. 1 Received 20 units at ₦60...


Question

Use the information below to answer questions .Aug. 1 Received 20 units at ₦60 each

Aug. 6 Received 20 units at ₦68 each

Aug. 10 Issued 16 units

Aug. 20 Received 40 units at ₦80 each

Aug. 31 Issued 48 unitsUsing the FIFO method, what is the value of the closing stock?

Options

A)
₦1280
B)
₦1184
C)
₦1024
D)
₦960

The correct answer is A.


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