If the first-in, first-out (FIFO) method of inventory (stock) valuation is used, what is the amount of

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If the first-in, first-out (FIFO) method of inventory (stock) valuation is used, what is the amount of closing inventory (stock)?

(a) £1,740

(b) £1,750

(c) £2,500

(d) £5,500


The following information applies to question.

On 31 December Year 1, James White and Co carried out its annual physical stocktaking counting 25 DVD players, each of which had cost £100. During Year 2, further purchases were made as follows:

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Annual sales totalled 52 DVD players at total sales revenue of £9,350. Dates of sale are not recorded.

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Financial Accounting

ISBN: 9781292244471

8th Edition

Authors: Pauline Weetman

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