Question: Moving to another question will save this response. Question 1 Ahmed company have the following data for the month of December, 2020. Date Dec

have the following data for the month of December, 2020. Date Dec

1 Transaction = Opening balance 10 units @$3 - $30 Dec 20

Purchased 5 units @$4 = $20 Dec 30 Sold 8 units @$5

- $40 If using FIFO method, the amount of profit is O

Moving to another question will save this response. Question 1 Ahmed company have the following data for the month of December, 2020. Date Dec 1 Transaction = Opening balance 10 units @$3 - $30 Dec 20 Purchased 5 units @$4 = $20 Dec 30 Sold 8 units @$5 - $40 If using FIFO method, the amount of profit is O $24 $20 $40 O $16

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