Diligent Ltd Had 5 Units of the Commodity Algo on Hand

question 2

Multiple Choice

Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016.The following purchases and sales were made during September:
- What was the value of cost of goods sold of Algo,using the FIFO assumption?

• A) $2640
• B) $2700
• C) $2720
• D) $2400

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Definitions:

Cotyledon(s)

Cotyledons are the first leaves that appear from a germinating seed, playing a crucial role in photosynthesis and the storage of nutrients during the early stages of plant development.

Tissue Culture

Tissue culture is a technique of growing tissues or cells in an artificial medium outside their original body for the purposes of research or medical treatment.

Meristem

Regions of plant tissue consisting of undifferentiated cells capable of cell division, responsible for the growth and development of plant organs.

Tissue Culture

A method of biological research in which cells are grown in artificial conditions outside of their organism.