The following information was available from the inventory records of Queen Company for July: What should be the inventory reported on Queen's July 31 statement of financial position using the FIFO inventory method?
A) £54,000.
B) £58,800.
C) £62,400.
D) £63,000.

Question

The following information was available from the inventory records of Queen Company for July:  What should be the inventory reported on Queen's July 31 statement of financial position using the FIFO inventory method?
A) £54,000. 
B) £58,800. 
C) £62,400. 
D) £63,000.

Quizplus · Accepted Answer

The Answer of The following information was available from the inventory records of Queen Company for July:  What should be the inventory reported on Queen's July 31 statement of financial position using the FIFO inventory method?
A) £54,000. 
B) £58,800. 
C) £62,400. 
D) £63,000.

The Following Information Was Available from the Inventory Records of Queen