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Platin Company adopts the FIFO method of IAS 2. As of July 1, 2021, the...

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Platin Company adopts the FIFO method of IAS 2. As of July 1, 2021, the company has 300 items of inventory valued at 15 OMR each. During the month, following transactions took place; 07/07/2021 Purchased 400 items at 18 OMR each 14/07/2021 Sold 200 items at 32 OMR each 19/07/2021 Purchased 150 items at 17 OMR each 22/07/2021 Sold 200 items at 34 OMR each 25/07/2021 Sold 320 items at 34 OMR each Calculate the value of closing inventory to be reported on balance sheet? Select one: O a. 2800 O b. 3200 O c. 3600 O d. 2210

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