In 20B,Landings,Inc

question 71

Multiple Choice

In 20B,Landings,Inc.provided the following items in their footnotes.Their cost of goods available for sale was $4.5 billion under FIFO costing and their ending inventory value under FIFO costing was $2.1 billion.Their purchases were $4.1 billion.What was their opening inventory?

• A)$0.4 billion
• B)$2.0 billion
• C)$2.4 billion
• D)$6.2 billion

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