Question: Why is the answer (a) 765? Q.29. Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance:

Why is the answer (a) 765? Q.29. Calculate the value of

Why is the answer (a) 765?

Q.29. Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance: 50 units @ Rs.4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 Issues: 2nd January, 2014: 30 units 18th January, 2014: 150 units (a) Rs. 765 (b) Rs. 805 (C) Rs. 786 (d) Rs. 700

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