Phoenix Plc Sells Hard Disks of Similar Make and Model

question 50

Multiple Choice

Phoenix Plc sells hard disks of similar make and model and reports an opening inventory on 1 July 2014 of 20 units purchased at £60.Its purchases during are as follows:
September 90 units @ £70
November 110 units @ £75
March 70 units @ £80
Phoenix Plc sold 260 units during the year.
What is the cost of ending inventory using FIFO and weighted average method respectively (rounded to the nearest dollar) ?

• A)£2100; £2209
• B)£2100; £2250
• C)£2400; £2209
• D)£2400; £2250

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Definitions:

Slow-To-Warm-Up

A temperament category describing individuals who are typically cautious in new situations but become more comfortable with familiarity.

Goodness Of Fit Model

A concept in psychology that describes how well an individual's temperament matches the expectations and demands of their environment, impacting their development.

Merchant

An individual or business that sells goods or services in the market.

Article 2

Refers to a portion of the Uniform Commercial Code that deals with the sale of goods.