FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following data were taken from the accounting records of Cooka Lamps, Inc

 

           Balance at January 1, 2020                                        5,000 lamps @ P30

 

           Purchases: January 8,

2020                                        1,200 lamps @ P32P137,760

                             January 20, 2020                                      800 lamps @ P34

 

           Sales:         January 6, 2020                                       1,600 lamps

                             January 14, 2021                                     1,020 lamps

 

On January 31, 2020, it was determine by physical count that 4,200 lamps were on

hand

If Cooka Lamps uses a periodic inventory system, the cost of the inventory using the weighted average cost flow assumption at January 31, 2020 is

Select one or more:

P137,760

P129,360

P134,400

P130,968

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