Solution-Determine the value of stock on hand at April

Determine the value of stock on hand at April

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Reference no: EM133109445

Question - On January 1, 2020 Ms DJ started a small business buying and selling steering wheel covers. During the next six months the following transactions occurred.

Date of purchases	units	Total cost $	Date of issues	units	Total value $
January 13	200	7,200
February 8	400	15,000	February 10	500	22,000
March 11	600	24,000
April 12	400	17,000	April 20	600	27,000
May 15	500	22,000	June 1	400	20,000

Using the FIFO method, determine the value of stock on hand at April 30, 2020

a) $17,000

b) $4,250

c) $21,000

d) $3,750

Reference no: EM133109445

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Determine the value of stock on hand at April

Reference no: EM133109445

Reference no: EM133109445

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