The inventory records of Cattle Company show the following purchases during the first quarter operations: January 15,000 units-P187,500 February 20,000 units-P240,000 March 13,000 units-P167,700 The March 31 inventory using the weighted average method is P282,720. How much is the March 31 inventory using the periodic first-in, first-out method?
The inventory records of Cattle Company show the following purchases during the first quarter operations: January 15,000 units-P187,500 February 20,000 units-P240,000 March 13,000 units-P167,700 The March 31 inventory using the weighted average method is P282,720. How much is the March 31 inventory using the periodic first-in, first-out method?
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEA: Financial statement data for years ending December 31 for Holland Company follow: a. Determine the...
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The inventory records of Cattle Company show the following purchases during the first quarter operations:
January 15,000 units-P187,500
February 20,000 units-P240,000
March 13,000 units-P167,700
The March 31 inventory using the weighted average method is P282,720. How much is the March 31 inventory using the periodic first-in, first-out method?
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