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Inventory Valuation MCQs 2026

70 questions with detailed answers · 27 from past papers · 7 quiz batches available

📚 Accounting📄 27 Past-Paper Qs✓ Free · No Login Needed
🎯 Mock Test

Read each question, think about the answer, then click Show Answer to reveal the correct option and explanation. Load 10 at a time so it stays manageable — perfect for one-topic study sessions on the bus or during a break.

Page 1 of 1Questions 1–10 of 70
  1. Q1hard

    FIFO COGS 57: 380 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 20,900
    2. BRs 19,000
    3. CRs 19,950
    4. DRs 22,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  2. Q2Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 58: 385 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 21,945
    2. BRs 20,790
    3. CRs 19,635
    4. DRs 23,485
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  3. Q3hard

    FIFO COGS 59: 390 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 23,010
    2. BRs 20,280
    3. CRs 21,645
    4. DRs 24,180
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  4. Q4Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 60: 395 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 24,095
    2. BRs 22,515
    3. CRs 24,885
    4. DRs 20,935
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  5. Q5Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 32: 255 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 16,575
    2. BRs 14,535
    3. CRs 15,555
    4. DRs 17,085
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  6. Q6Past Paper · PPSC/FPSC/NTSeasy

    FIFO in accounting refers to

    1. Afirst units purchased are first issued
    2. Blast units purchased are first issued (where permitted)
    3. Cestimated selling price minus costs to sell
    4. Damount at which inventory is shown in accounts
    💡 Explanation:

    FIFO is a core 7 concept for PPSC/FPSC/NTS exams.

  7. Q7medium

    Weighted average in accounting refers to

    1. Ainventory not overstated above recoverable value
    2. BCOGS divided by average inventory
    3. Cpurchases recorded in purchases account periodically
    4. Daverage cost recalculated after each purchase
    💡 Explanation:

    weighted average is a core 7 concept for PPSC/FPSC/NTS exams.

  8. Q8Past Paper · PPSC/FPSC/NTShard

    Specific identification in accounting refers to

    1. Aactual cost of each identifiable unit
    2. Bestimated selling price minus costs to sell
    3. Camount at which inventory is shown in accounts
    4. Dcontinuous updating of inventory records
    💡 Explanation:

    specific identification is a core 7 concept for PPSC/FPSC/NTS exams.

  9. Q9easy

    LIFO in accounting refers to

    1. Alast units purchased are first issued (where permitted)
    2. BCOGS divided by average inventory
    3. Cpurchases recorded in purchases account periodically
    4. Dfirst units purchased are first issued
    💡 Explanation:

    LIFO is a core 7 concept for PPSC/FPSC/NTS exams.

  10. Q10Past Paper · PPSC/FPSC/NTSmedium

    Lower of cost and NRV in accounting refers to

    1. Aamount at which inventory is shown in accounts
    2. Binventory not overstated above recoverable value
    3. Ccontinuous updating of inventory records
    4. Daverage cost recalculated after each purchase
    💡 Explanation:

    lower of cost and NRV is a core 7 concept for PPSC/FPSC/NTS exams.

  11. Q11hard

    Net realizable value in accounting refers to

    1. Aestimated selling price minus costs to sell
    2. Bpurchases recorded in purchases account periodically
    3. Cfirst units purchased are first issued
    4. Dactual cost of each identifiable unit
    💡 Explanation:

    net realizable value is a core 7 concept for PPSC/FPSC/NTS exams.

  12. Q12Past Paper · PPSC/FPSC/NTSeasy

    Inventory turnover in accounting refers to

    1. Acontinuous updating of inventory records
    2. Baverage cost recalculated after each purchase
    3. Clast units purchased are first issued (where permitted)
    4. DCOGS divided by average inventory
    💡 Explanation:

    inventory turnover is a core 7 concept for PPSC/FPSC/NTS exams.

  13. Q13medium

    Carrying amount in accounting refers to

    1. Afirst units purchased are first issued
    2. Bamount at which inventory is shown in accounts
    3. Cactual cost of each identifiable unit
    4. Dinventory not overstated above recoverable value
    💡 Explanation:

    carrying amount is a core 7 concept for PPSC/FPSC/NTS exams.

  14. Q14Past Paper · PPSC/FPSC/NTShard

    Periodic system in accounting refers to

    1. Aaverage cost recalculated after each purchase
    2. Blast units purchased are first issued (where permitted)
    3. Cestimated selling price minus costs to sell
    4. Dpurchases recorded in purchases account periodically
    💡 Explanation:

    periodic system is a core 7 concept for PPSC/FPSC/NTS exams.

  15. Q15easy

    Perpetual system in accounting refers to

    1. Aactual cost of each identifiable unit
    2. Bcontinuous updating of inventory records
    3. Cinventory not overstated above recoverable value
    4. DCOGS divided by average inventory
    💡 Explanation:

    perpetual system is a core 7 concept for PPSC/FPSC/NTS exams.

  16. Q16hard

    FIFO COGS 1: 100 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 5,500
    2. BRs 5,000
    3. CRs 5,250
    4. DRs 6,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  17. Q17Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 2: 105 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 5,985
    2. BRs 5,670
    3. CRs 6,405
    4. DRs 5,355
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  18. Q18hard

    FIFO COGS 3: 110 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 5,720
    2. BRs 6,490
    3. CRs 6,105
    4. DRs 6,820
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  19. Q19Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 4: 115 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 6,095
    2. BRs 7,015
    3. CRs 6,555
    4. DRs 7,245
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  20. Q20hard

    FIFO COGS 5: 120 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 7,080
    2. BRs 6,480
    3. CRs 6,780
    4. DRs 7,680
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  21. Q21hard

    FIFO COGS 6: 125 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 7,625
    2. BRs 7,250
    3. CRs 6,875
    4. DRs 8,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  22. Q22Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 7: 130 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 7,280
    2. BRs 8,190
    3. CRs 7,735
    4. DRs 8,580
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  23. Q23hard

    FIFO COGS 8: 135 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 8,775
    2. BRs 8,235
    3. CRs 7,695
    4. DRs 9,045
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  24. Q24hard

    FIFO COGS 9: 140 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 7,700
    2. BRs 7,350
    3. CRs 7,000
    4. DRs 8,400
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  25. Q25Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 10: 145 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 7,395
    2. BRs 8,265
    3. CRs 7,830
    4. DRs 8,845
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  26. Q26hard

    FIFO COGS 11: 150 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 8,850
    2. BRs 8,325
    3. CRs 7,800
    4. DRs 9,300
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  27. Q27hard

    FIFO COGS 12: 155 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 9,455
    2. BRs 8,835
    3. CRs 9,765
    4. DRs 8,215
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  28. Q28Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 13: 160 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 9,440
    2. BRs 8,640
    3. CRs 9,040
    4. DRs 10,240
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  29. Q29hard

    FIFO COGS 14: 165 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 9,075
    2. BRs 10,065
    3. CRs 9,570
    4. DRs 10,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  30. Q30hard

    FIFO COGS 15: 170 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 10,710
    2. BRs 10,115
    3. CRs 9,520
    4. DRs 11,220
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  31. Q31Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 16: 175 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 11,375
    2. BRs 10,675
    3. CRs 9,975
    4. DRs 11,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  32. Q32hard

    FIFO COGS 17: 180 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 9,900
    2. BRs 9,000
    3. CRs 9,450
    4. DRs 10,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  33. Q33Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 18: 185 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 10,545
    2. BRs 9,990
    3. CRs 11,285
    4. DRs 9,435
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  34. Q34hard

    FIFO COGS 19: 190 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 11,210
    2. BRs 10,545
    3. CRs 9,880
    4. DRs 11,780
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  35. Q35hard

    FIFO COGS 20: 195 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 11,895
    2. BRs 10,335
    3. CRs 11,115
    4. DRs 12,285
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  36. Q36Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 21: 200 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 10,800
    2. BRs 11,800
    3. CRs 11,300
    4. DRs 12,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  37. Q37hard

    FIFO COGS 22: 205 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 12,505
    2. BRs 11,890
    3. CRs 13,325
    4. DRs 11,275
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  38. Q38hard

    FIFO COGS 23: 210 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 11,760
    2. BRs 13,230
    3. CRs 12,495
    4. DRs 13,860
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  39. Q39Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 24: 215 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 13,975
    2. BRs 13,115
    3. CRs 14,405
    4. DRs 12,255
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  40. Q40hard

    FIFO COGS 25: 220 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 12,100
    2. BRs 11,000
    3. CRs 11,550
    4. DRs 13,200
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  41. Q41hard

    FIFO COGS 26: 225 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 12,825
    2. BRs 12,150
    3. CRs 13,725
    4. DRs 11,475
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  42. Q42Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 27: 230 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 13,570
    2. BRs 12,765
    3. CRs 11,960
    4. DRs 14,260
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  43. Q43hard

    FIFO COGS 28: 235 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 14,335
    2. BRs 12,455
    3. CRs 13,395
    4. DRs 14,805
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  44. Q44hard

    FIFO COGS 29: 240 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 14,160
    2. BRs 13,560
    3. CRs 12,960
    4. DRs 15,360
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  45. Q45Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 30: 245 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 13,475
    2. BRs 14,945
    3. CRs 14,210
    4. DRs 15,925
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  46. Q46hard

    FIFO COGS 31: 250 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 14,000
    2. BRs 15,750
    3. CRs 14,875
    4. DRs 16,500
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  47. Q47hard

    FIFO COGS 33: 260 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 13,000
    2. BRs 14,300
    3. CRs 13,650
    4. DRs 15,600
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  48. Q48hard

    FIFO COGS 34: 265 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 15,105
    2. BRs 13,515
    3. CRs 14,310
    4. DRs 16,165
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  49. Q49Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 35: 270 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 15,930
    2. BRs 14,985
    3. CRs 16,740
    4. DRs 14,040
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  50. Q50hard

    FIFO COGS 36: 275 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 16,775
    2. BRs 15,675
    3. CRs 14,575
    4. DRs 17,325
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  51. Q51hard

    FIFO COGS 37: 280 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 16,520
    2. BRs 15,120
    3. CRs 15,820
    4. DRs 17,920
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  52. Q52Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 38: 285 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 17,385
    2. BRs 15,675
    3. CRs 16,530
    4. DRs 18,525
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  53. Q53hard

    FIFO COGS 39: 290 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 18,270
    2. BRs 17,255
    3. CRs 19,140
    4. DRs 16,240
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  54. Q54hard

    FIFO COGS 40: 295 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 19,175
    2. BRs 17,995
    3. CRs 16,815
    4. DRs 19,765
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  55. Q55Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 41: 300 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 15,000
    2. BRs 16,500
    3. CRs 15,750
    4. DRs 18,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  56. Q56hard

    FIFO COGS 42: 305 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 17,385
    2. BRs 16,470
    3. CRs 15,555
    4. DRs 18,605
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  57. Q57hard

    FIFO COGS 43: 310 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 18,290
    2. BRs 17,205
    3. CRs 16,120
    4. DRs 19,220
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  58. Q58Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 44: 315 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 19,215
    2. BRs 17,955
    3. CRs 19,845
    4. DRs 16,695
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  59. Q59hard

    FIFO COGS 45: 320 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 18,880
    2. BRs 17,280
    3. CRs 18,080
    4. DRs 20,480
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  60. Q60Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 46: 325 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 17,875
    2. BRs 19,825
    3. CRs 18,850
    4. DRs 21,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  61. Q61hard

    FIFO COGS 47: 330 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 20,790
    2. BRs 19,635
    3. CRs 21,780
    4. DRs 18,480
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  62. Q62hard

    FIFO COGS 48: 335 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 21,775
    2. BRs 20,435
    3. CRs 19,095
    4. DRs 22,445
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  63. Q63Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 49: 340 units sold; opening/all first batch 50 per unit, next purchase 55. Under FIFO COGS uses first prices: approximately

    1. ARs 18,700
    2. BRs 17,850
    3. CRs 20,400
    4. DRs 17,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  64. Q64hard

    FIFO COGS 50: 345 units sold; opening/all first batch 51 per unit, next purchase 57. Under FIFO COGS uses first prices: approximately

    1. ARs 17,595
    2. BRs 19,665
    3. CRs 18,630
    4. DRs 21,045
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  65. Q65hard

    FIFO COGS 51: 350 units sold; opening/all first batch 52 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 20,650
    2. BRs 19,425
    3. CRs 21,700
    4. DRs 18,200
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  66. Q66Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 52: 355 units sold; opening/all first batch 53 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 21,655
    2. BRs 20,235
    3. CRs 18,815
    4. DRs 22,365
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  67. Q67hard

    FIFO COGS 53: 360 units sold; opening/all first batch 54 per unit, next purchase 59. Under FIFO COGS uses first prices: approximately

    1. ARs 21,240
    2. BRs 20,340
    3. CRs 19,440
    4. DRs 23,040
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  68. Q68hard

    FIFO COGS 54: 365 units sold; opening/all first batch 55 per unit, next purchase 61. Under FIFO COGS uses first prices: approximately

    1. ARs 20,075
    2. BRs 22,265
    3. CRs 21,170
    4. DRs 23,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  69. Q69Past Paper · PPSC/FPSC/NTShard

    FIFO COGS 55: 370 units sold; opening/all first batch 56 per unit, next purchase 63. Under FIFO COGS uses first prices: approximately

    1. ARs 23,310
    2. BRs 22,015
    3. CRs 24,420
    4. DRs 20,720
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  70. Q70hard

    FIFO COGS 56: 375 units sold; opening/all first batch 57 per unit, next purchase 65. Under FIFO COGS uses first prices: approximately

    1. ARs 24,375
    2. BRs 21,375
    3. CRs 22,875
    4. DRs 25,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

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