The following information was available from the inventory records of Apollo Company for January: Unit Total Units Cost Cost Balance at 3,000 P9.77 P29,310 January 1 Purchases January 8 2,000 P10.30 P20,600 January 26 2,700 P10.71 P28,917 Sales January 9 (2,500) January 31 (4,000) Balance at 1,200 January 31 Assuming that Apollo maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest peso? P12,312. P12,432. P12,606. O P12,284.

The following information was available from the inventory records of Apollo Company for January: Unit Total Units Cost Cost Balance at 3,000 P9.77 P29,310 January 1 Purchases January 8 2,000 P10.30 P20,600 January 26 2,700 P10.71 P28,917 Sales January 9 (2,500) January 31 (4,000) Balance at 1,200 January 31 Assuming that Apollo maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest peso? P12,312. P12,432. P12,606. O P12,284.

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Description: The following information was available from the inventoryrecords of Apollo Company for January:UnitTotalUnitsCostCostBalance at3,000P9.77P29,310January 1PurchasesJanuary 82,000P10.30P20,600January 262,700P10.71P28,917SalesJanuary 9(2,500)January 31

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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