Multiple Choice
Phoenix Ltd sells hard disks of similar make and model and reports an opening inventory on 1 July 2012 of 20 units purchased at $60.Its purchases during are as follows:
September 90 units @ $70
November 110 units @ $75
March 70 units @ $80
Phoenix Ltd sold 260 units during the year.
What is the cost of ending inventory using FIFO and weighted average method respectively (rounded to the nearest dollar) ?
A) $2100; $2209
B) $2100; $2250
C) $2400; $2209
D) $2400; $2250
Correct Answer:
Verified
Correct Answer:
Verified
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