Use the information below to answer this question Date………….QTY. …..RATE……..TOTAL ……………(Units)…..N………..N January 2nd…..500……..25……….12500 March 7th…….250……..28……….7000…

Accounts - Principles of Accounts JAMB 2002

Use the information below to answer this question

Date………….QTY. …..RATE……..TOTAL
……………(Units)…..N………..N
January 2nd…..500……..25……….12500
March 7th…….250……..28……….7000
Issues were made as follows:
Date…………QTY. (uNITS)
January 9th …..200
February 14th …200
March 11th ……200

The closing stock on March 11th by LIFO valuation is

  • N4200 checkmark
  • N2700
  • N4500
  • N3900

The correct answer is: A

Explanation

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