Ltd. maintains the inventory records under perpetual system of inventory. Consider the following
data pertaining to inventory of O Ltd. held for the month of March 2014;
Date Particulars
Quantity Cost Per unit)
Mar. 1 Opening Inventory
15,400
Mar. 4 Purchases
20,450
Mar. 6 Purchases
10,460
If the company sold 32 units on March 24, 2014, closing inventory under FIFO method is
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yes 10460 purchase units of year
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