Principles of Accounting MCQ: 2 oct Opening balance=200 units @Rs 15 each, 4 Oct:Purchase=500 units @Rs 10 ,5 Oct Sales=600 units.What will be Closing Inventory value (in Rs) as per LIFO Method?

← All Principles of Accounting questions

2 oct Opening balance=200 units @Rs 15 each, 4 Oct:Purchase=500 units @Rs 10 ,5 Oct Sales=600 units.What will be Closing Inventory value (in Rs) as per LIFO Method?

Correct Answer: Rs 1500

Make the most of this question

This page focuses on one Principles of Accounting question from Faculty. After checking the answer, return to the topic list to practice more or run a timed set.

← More Principles of Accounting MCQs All Faculty topics Mock test hub