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The following information relating to the question 8, 9 and 10: January 1 Received 50...

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Accounting

The following information relating to the question 8, 9 and 10: January 1 Received 50 units at RM4 each January 2 Received 100 units at RM5 each January 5 Issued 30 units 8) Based on FIFO method, what is the value of closing stock? A. RM550 B. RM560 C. RM580 D. RM600 9) Based on LIFO method, what is the value of closing stock? A. RM550 B. RM560 C. RM580 D. RM600 10) Based on cumulative weighted average, what is the value of closing stock? A. RM550 B. RM560 C. RM580 D. RM600

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