Mathematics · Inventory Valuation
Yin purchased the following inventory during the current accounting period: - January: Received 145 units, Total value $290; Sold 0 units - February: Received 270 units, Total value $675; Sold 90 units - March: Received 0 units; Sold 320 units - April: Received 240 units, Total value $672; Sold 0 units The business had no inventory on 1 January. Assuming that Yin uses the FIFO approach to stock valuation, what amount should be shown for inventory in the statement of financial position at 30 April (to two decimal places)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$705.60
- 2$686.00
- 3$784.00✓
- 4$672.00
Correct answer
$784.00
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