Carlisle has the following inventory movements during May: per Unit 10.52 12.78 Opening inventory 2...

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Carlisle has the following inventory movements during May: £ per Unit 10.52 12.78 Opening inventory 2 May 10 May 15 May 18 May 24 May Goods in Goods out Goods in Goods out Goods in Units 40 60 50 70 45 80 13.39 16.80 Assuming that the business values inventory on a FIFO basis, what will be the value of Cost of Sale at the end of the month? Carlisle has the following inventory movements during May: £ per Unit 10.52 12.78 Opening inventory 2 May 10 May 15 May 18 May 24 May Goods in Goods out Goods in Goods out Goods in Units 40 60 50 70 45 80 13.39 16.80 Assuming that the business values inventory on a FIFO basis, what will be the value of Cost of Sale at the end of the month?

Answer rating: 100% (QA)

Using the FIFO First In First Out method the cost of goods sold ... View the full answer