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Inventory Valuation MCQs 2026

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

📚 Accounting Mcqs 📄 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 1 Questions 1–10 of 70
  1. Q1 Past Paper · PPSC/FPSC/NTS easy

    FIFO in accounting refers to

    1. A first units purchased are first issued
    2. B last units purchased are first issued (where permitted)
    3. C estimated selling price minus costs to sell
    4. D amount at which inventory is shown in accounts
    💡 Explanation:

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

  2. Q2 medium

    Weighted average in accounting refers to

    1. A inventory not overstated above recoverable value
    2. B COGS divided by average inventory
    3. C purchases recorded in purchases account periodically
    4. D average cost recalculated after each purchase
    💡 Explanation:

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

  3. Q3 Past Paper · PPSC/FPSC/NTS hard

    Specific identification in accounting refers to

    1. A actual cost of each identifiable unit
    2. B estimated selling price minus costs to sell
    3. C amount at which inventory is shown in accounts
    4. D continuous updating of inventory records
    💡 Explanation:

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

  4. Q4 easy

    LIFO in accounting refers to

    1. A last units purchased are first issued (where permitted)
    2. B COGS divided by average inventory
    3. C purchases recorded in purchases account periodically
    4. D first units purchased are first issued
    💡 Explanation:

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

  5. Q5 Past Paper · PPSC/FPSC/NTS medium

    Lower of cost and NRV in accounting refers to

    1. A amount at which inventory is shown in accounts
    2. B inventory not overstated above recoverable value
    3. C continuous updating of inventory records
    4. D average cost recalculated after each purchase
    💡 Explanation:

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

  6. Q6 hard

    Net realizable value in accounting refers to

    1. A estimated selling price minus costs to sell
    2. B purchases recorded in purchases account periodically
    3. C first units purchased are first issued
    4. D actual cost of each identifiable unit
    💡 Explanation:

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

  7. Q7 Past Paper · PPSC/FPSC/NTS easy

    Inventory turnover in accounting refers to

    1. A continuous updating of inventory records
    2. B average cost recalculated after each purchase
    3. C last units purchased are first issued (where permitted)
    4. D COGS divided by average inventory
    💡 Explanation:

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

  8. Q8 medium

    Carrying amount in accounting refers to

    1. A first units purchased are first issued
    2. B amount at which inventory is shown in accounts
    3. C actual cost of each identifiable unit
    4. D inventory not overstated above recoverable value
    💡 Explanation:

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

  9. Q9 Past Paper · PPSC/FPSC/NTS hard

    Periodic system in accounting refers to

    1. A average cost recalculated after each purchase
    2. B last units purchased are first issued (where permitted)
    3. C estimated selling price minus costs to sell
    4. D purchases recorded in purchases account periodically
    💡 Explanation:

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

  10. Q10 easy

    Perpetual system in accounting refers to

    1. A actual cost of each identifiable unit
    2. B continuous updating of inventory records
    3. C inventory not overstated above recoverable value
    4. D COGS divided by average inventory
    💡 Explanation:

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

  11. Q11 hard

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

    1. A Rs 5,500
    2. B Rs 5,000
    3. C Rs 5,250
    4. D Rs 6,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  12. Q12 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 5,985
    2. B Rs 5,670
    3. C Rs 6,405
    4. D Rs 5,355
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  13. Q13 hard

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

    1. A Rs 5,720
    2. B Rs 6,490
    3. C Rs 6,105
    4. D Rs 6,820
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  14. Q14 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 6,095
    2. B Rs 7,015
    3. C Rs 6,555
    4. D Rs 7,245
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  15. Q15 hard

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

    1. A Rs 7,080
    2. B Rs 6,480
    3. C Rs 6,780
    4. D Rs 7,680
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  16. Q16 hard

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

    1. A Rs 7,625
    2. B Rs 7,250
    3. C Rs 6,875
    4. D Rs 8,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  17. Q17 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 7,280
    2. B Rs 8,190
    3. C Rs 7,735
    4. D Rs 8,580
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  18. Q18 hard

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

    1. A Rs 8,775
    2. B Rs 8,235
    3. C Rs 7,695
    4. D Rs 9,045
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  19. Q19 hard

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

    1. A Rs 7,700
    2. B Rs 7,350
    3. C Rs 7,000
    4. D Rs 8,400
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  20. Q20 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 7,395
    2. B Rs 8,265
    3. C Rs 7,830
    4. D Rs 8,845
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  21. Q21 hard

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

    1. A Rs 8,850
    2. B Rs 8,325
    3. C Rs 7,800
    4. D Rs 9,300
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  22. Q22 hard

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

    1. A Rs 9,455
    2. B Rs 8,835
    3. C Rs 9,765
    4. D Rs 8,215
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  23. Q23 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 9,440
    2. B Rs 8,640
    3. C Rs 9,040
    4. D Rs 10,240
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  24. Q24 hard

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

    1. A Rs 9,075
    2. B Rs 10,065
    3. C Rs 9,570
    4. D Rs 10,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  25. Q25 hard

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

    1. A Rs 10,710
    2. B Rs 10,115
    3. C Rs 9,520
    4. D Rs 11,220
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  26. Q26 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 11,375
    2. B Rs 10,675
    3. C Rs 9,975
    4. D Rs 11,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  27. Q27 hard

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

    1. A Rs 9,900
    2. B Rs 9,000
    3. C Rs 9,450
    4. D Rs 10,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  28. Q28 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 10,545
    2. B Rs 9,990
    3. C Rs 11,285
    4. D Rs 9,435
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  29. Q29 hard

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

    1. A Rs 11,210
    2. B Rs 10,545
    3. C Rs 9,880
    4. D Rs 11,780
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  30. Q30 hard

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

    1. A Rs 11,895
    2. B Rs 10,335
    3. C Rs 11,115
    4. D Rs 12,285
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  31. Q31 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 10,800
    2. B Rs 11,800
    3. C Rs 11,300
    4. D Rs 12,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  32. Q32 hard

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

    1. A Rs 12,505
    2. B Rs 11,890
    3. C Rs 13,325
    4. D Rs 11,275
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  33. Q33 hard

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

    1. A Rs 11,760
    2. B Rs 13,230
    3. C Rs 12,495
    4. D Rs 13,860
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  34. Q34 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 13,975
    2. B Rs 13,115
    3. C Rs 14,405
    4. D Rs 12,255
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  35. Q35 hard

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

    1. A Rs 12,100
    2. B Rs 11,000
    3. C Rs 11,550
    4. D Rs 13,200
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  36. Q36 hard

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

    1. A Rs 12,825
    2. B Rs 12,150
    3. C Rs 13,725
    4. D Rs 11,475
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  37. Q37 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 13,570
    2. B Rs 12,765
    3. C Rs 11,960
    4. D Rs 14,260
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  38. Q38 hard

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

    1. A Rs 14,335
    2. B Rs 12,455
    3. C Rs 13,395
    4. D Rs 14,805
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  39. Q39 hard

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

    1. A Rs 14,160
    2. B Rs 13,560
    3. C Rs 12,960
    4. D Rs 15,360
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  40. Q40 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 13,475
    2. B Rs 14,945
    3. C Rs 14,210
    4. D Rs 15,925
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  41. Q41 hard

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

    1. A Rs 14,000
    2. B Rs 15,750
    3. C Rs 14,875
    4. D Rs 16,500
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  42. Q42 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 16,575
    2. B Rs 14,535
    3. C Rs 15,555
    4. D Rs 17,085
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  43. Q43 hard

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

    1. A Rs 13,000
    2. B Rs 14,300
    3. C Rs 13,650
    4. D Rs 15,600
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  44. Q44 hard

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

    1. A Rs 15,105
    2. B Rs 13,515
    3. C Rs 14,310
    4. D Rs 16,165
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  45. Q45 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 15,930
    2. B Rs 14,985
    3. C Rs 16,740
    4. D Rs 14,040
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  46. Q46 hard

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

    1. A Rs 16,775
    2. B Rs 15,675
    3. C Rs 14,575
    4. D Rs 17,325
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  47. Q47 hard

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

    1. A Rs 16,520
    2. B Rs 15,120
    3. C Rs 15,820
    4. D Rs 17,920
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  48. Q48 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 17,385
    2. B Rs 15,675
    3. C Rs 16,530
    4. D Rs 18,525
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  49. Q49 hard

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

    1. A Rs 18,270
    2. B Rs 17,255
    3. C Rs 19,140
    4. D Rs 16,240
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  50. Q50 hard

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

    1. A Rs 19,175
    2. B Rs 17,995
    3. C Rs 16,815
    4. D Rs 19,765
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  51. Q51 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 15,000
    2. B Rs 16,500
    3. C Rs 15,750
    4. D Rs 18,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  52. Q52 hard

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

    1. A Rs 17,385
    2. B Rs 16,470
    3. C Rs 15,555
    4. D Rs 18,605
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  53. Q53 hard

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

    1. A Rs 18,290
    2. B Rs 17,205
    3. C Rs 16,120
    4. D Rs 19,220
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  54. Q54 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 19,215
    2. B Rs 17,955
    3. C Rs 19,845
    4. D Rs 16,695
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  55. Q55 hard

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

    1. A Rs 18,880
    2. B Rs 17,280
    3. C Rs 18,080
    4. D Rs 20,480
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  56. Q56 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 17,875
    2. B Rs 19,825
    3. C Rs 18,850
    4. D Rs 21,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  57. Q57 hard

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

    1. A Rs 20,790
    2. B Rs 19,635
    3. C Rs 21,780
    4. D Rs 18,480
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  58. Q58 hard

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

    1. A Rs 21,775
    2. B Rs 20,435
    3. C Rs 19,095
    4. D Rs 22,445
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  59. Q59 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 18,700
    2. B Rs 17,850
    3. C Rs 20,400
    4. D Rs 17,000
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  60. Q60 hard

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

    1. A Rs 17,595
    2. B Rs 19,665
    3. C Rs 18,630
    4. D Rs 21,045
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  61. Q61 hard

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

    1. A Rs 20,650
    2. B Rs 19,425
    3. C Rs 21,700
    4. D Rs 18,200
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  62. Q62 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 21,655
    2. B Rs 20,235
    3. C Rs 18,815
    4. D Rs 22,365
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  63. Q63 hard

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

    1. A Rs 21,240
    2. B Rs 20,340
    3. C Rs 19,440
    4. D Rs 23,040
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  64. Q64 hard

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

    1. A Rs 20,075
    2. B Rs 22,265
    3. C Rs 21,170
    4. D Rs 23,725
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  65. Q65 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 23,310
    2. B Rs 22,015
    3. C Rs 24,420
    4. D Rs 20,720
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  66. Q66 hard

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

    1. A Rs 24,375
    2. B Rs 21,375
    3. C Rs 22,875
    4. D Rs 25,125
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  67. Q67 hard

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

    1. A Rs 20,900
    2. B Rs 19,000
    3. C Rs 19,950
    4. D Rs 22,800
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  68. Q68 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 21,945
    2. B Rs 20,790
    3. C Rs 19,635
    4. D Rs 23,485
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  69. Q69 hard

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

    1. A Rs 23,010
    2. B Rs 20,280
    3. C Rs 21,645
    4. D Rs 24,180
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

  70. Q70 Past Paper · PPSC/FPSC/NTS hard

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

    1. A Rs 24,095
    2. B Rs 22,515
    3. C Rs 24,885
    4. D Rs 20,935
    💡 Explanation:

    FIFO assigns earliest unit costs to COGS.

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