Oman Polymers provide the following data relating to its material to you. Calculate the value of the closing stock if the company adopts the LIFO method of pricing its material issue to production. February 1: Opening balance of 100 units @ OMR 2.500 February 12: Received material 50 units @ OMR 3.100 February 15: Issue material 80 units February 20: Issue 10 units February 25: Received Material 120 Units @ OMR 2.900

Oman Polymers provide the following data relating to its material to you. Calculate the value of the closing stock if the company adopts the LIFO method of pricing its material issue to production. February 1: Opening balance of 100 units @ OMR 2.500 February 12: Received material 50 units @ OMR 3.100 February 15: Issue material 80 units February 20: Issue 10 units February 25: Received Material 120 Units @ OMR 2.900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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