From the following, determine the value of closing stock using:
Feb 1 purchased 200 units @ ₦2.00 each
Feb 3 purchased 100 units @ ₦1.00 each
Feb 4 issued 120 units @ ₦5.00 each
Feb 5 purchased 50 units @ ₦3.00 each
Feb 6 issued 100 units @ ₦4.00 each
Feb 1 purchased 200 units @ ₦2.00 each
Feb 3 purchased 100 units @ ₦1.00 each
Feb 4 issued 120 units @ ₦5.00 each
Feb 5 purchased 50 units @ ₦3.00 each
Feb 6 issued 100 units @ ₦4.00 each
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Correct Answer: Option C
Explanation:
The value of closing stock is ₦230
|  | ₦ |
| Feb1 : 200 × 2 =feb 3 : 100 × 1 = | 400100 |
| Feb 4 : 120 × 2 = | 500(240) |
| Feb 5 : 50 × 3 | 260150 |
| Feb 6 : 80 × 2 = | 410(160) |
| 20 × 1 | 25020 |
| 100 | 230 |
The value of closing stock is ₦230