Question: 3. Consider the following transactions and demonstrate FIFO pricing methods of inventory. Transactions during July 2021:- Date Item Units 1st July opening stock 200 3rd

3. Consider the following transactions and demonstrate FIFO pricing methods of inventory. Transactions during July 2021:- Date Item Units 1st July opening stock 200 3rd July Receipt 300 4th July Issue 250 Unit cost (OMR) 3.00 3.20 What is the value of Issue on 4th July 2021 using FIFO method? (2 Points) OMR 160 OMR 760 OMR 600 OMR 650

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