The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 33 MCQ 33. Identify the units in closing stock for the month of March 2021 for Al Reem Manufacturing LLC. a.450 units b.280 units c.220 units d.320 units
The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 33 MCQ 33. Identify the units in closing stock for the month of March 2021 for Al Reem Manufacturing LLC. a.450 units b.280 units c.220 units d.320 units
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
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The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing:
1st March 2021: Opening balance – 50 units @ RO 4
Receipts:
5th March: 100 units @ RO 5
12th March: 200 units @ RO 4.50
24th March: 150 units @ RO 3
Issues:
2nd March: 30 units
18th March: 150 units
30th March: 100 units
Use the above information and answer 33 MCQ
33. Identify the units in closing stock for the month of March 2021 for Al Reem Manufacturing LLC.
a.450 units
b.280 units
c.220 units
d.320 units
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