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Diligent Ltd Had Five Units of the Commodity Algo on Hand

Question 10

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 cost of goods sold of Algo, using the FIFO assumption? A) $2 640 B) $2 700 C) $2 720 D) $2 400 What was the value of cost of goods sold of Algo, using the FIFO assumption?


A) $2 640
B) $2 700
C) $2 720
D) $2 400

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