Solution-What was the value assigned to the closing stock

What was the value assigned to the closing stock

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Reference no: EM132939934

Question - Indigo Ltd uses the FIFO assumption with the periodic inventory method.

	Units	Unit cost	Total cost
Beginning inventory	12	$10	$120
Purchase	10	$12	$120
Purchase	6	$11	$66

Sales during year were 16 units. What was the value assigned to the closing stock of this item at the end of the period?

Reference no: EM132939934

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What was the value assigned to the closing stock

Reference no: EM132939934

Reference no: EM132939934

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