Question
The following transactions relate to a raw material for a period: Day Transaction Units...
The following transactions relate to a raw material for a period:
Day Transaction Units Total value (£)
1 Balance b/f 200 500
3 Issue 40
4 Receipt 50 135
6 Receipt 50 130
7 Issue 70
LIFO is used to price material issues.
What is the value of the stock issued on Day 7?
A £175.00
B £184·00
C £180·00
D £179·00
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