Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000; Net Purchases P45,000; and Cost of Goods Sold P50,000. Determine the Ending Inventory. a. P10,000 b. P15,000 c. 5,000 d. 25,000
Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000; Net Purchases P45,000; and Cost of Goods Sold P50,000. Determine the Ending Inventory. a. P10,000 b. P15,000 c. 5,000 d. 25,000
Chapter10: Inventory
Section: Chapter Questions
Problem 6PA: Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to...
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Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000; Net Purchases P45,000; and Cost of Goods Sold P50,000. Determine the Ending Inventory.
a. P10,000
b. P15,000
c. 5,000
d. 25,000
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