Question: 1 The company RESOLVE, Plc. uses a FIFO method to manage inventories. In 2016, inventories showed the following movements: Item Units (Ud) Price (P) BI

1 The company RESOLVE, Plc. uses a FIFO method to manage

1 The company RESOLVE, Plc. uses a FIFO method to manage inventories. In 2016, inventories showed the following movements: Item Units (Ud) Price (P) BI 200,000 15 Purchase # 1 200,000 20 Sale # 1 -250,000 ? Purchase # 2 300,000 25 Purchase # 3 100,000 15 Sale # 2 -250,000 ? Sale # 3 -250,000 ? ? ? Please, answer the following questions: 1. What is the number of units at the end of the year? What is the value of those units according to FIFO? 2. Had the company applied a weighted average cost method, what would have been the value of the inventories at the end of the year

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