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Explain the value of inventory under fifo method

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Reference no: EM132561616

Singhania LTD purchased 15 bikes during March and sold 6 bikes, details of which are as follows:

March 1 Purchased 7 bikes @ $45 each

March 5 Sold 2 bikes

March 10 Sold 1 bike

March 15 Purchased 10 bikes @ 70 each

March 25 Sold 3 bikes

Question 1: Explain the value of inventory under FIFO method?

Reference no: EM132561616

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