Question

Consider the following information:

Which one of the following is the value of inventory on January 31 under perpetual inventory system using Last-In-First-Out (LIFO) method?

A ₹ 6,600 Correct Answer Incorrect Answer
B ₹ 8,600 Correct Answer Incorrect Answer
C ₹ 10,600 Correct Answer Incorrect Answer
D ₹ 12,000 Correct Answer Incorrect Answer

Solution

The correct answer is C

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