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Diligent Ltd Had Five Units of the Commodity Algo on Hand

Question 4

Multiple Choice

Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: What was the value of ending inventory of Algo, using the FIFO assumption? A) $1 460 B) $1 480 C) $2 400 D) $1 400 What was the value of ending inventory of Algo, using the FIFO assumption?


A) $1 460
B) $1 480
C) $2 400
D) $1 400

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