The building materials trader Saint-Clar Bâtiment measures its concrete blocks using FIFO. During the quarter, it sold 3,200 units blocks; at the start of the quarter it held 1,000 units blocks valued at 8 each and it bought 4,000 units at 9 each. The sales have already been recorded as revenue. Which entry recognises the cost of the blocks sold?
- Blocks at the start of the quarter
- 1,000
- Opening unit cost
- 8
- Blocks purchased
- 4,000
- Purchase unit cost
- 9
- Blocks sold
- 3,200