Tudors, Inc. purchases and resells a single item of product. Inventory at the beginning of September 2017 was 400 units, values at P1.80 each. Further receipts and sales during the month were as follows: Pesos Per Unit Units Sept. 8 Sept. 14 Sept. 25 Receipts Receipts Sales 600 P2.10 500 ? 1,250 4.00 The company uses the FIFO. Gross margin for September was P2,500.

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Chapter1: Financial Statements And Business Decisions
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6. Tudors, Inc. purchases and resells a single item of
product. Inventory at the beginning of September
2017 was 400 units, values at P1.80 each. Further
receipts and sales during the month were as follows:
Units
Pesos Per Unit
Sept. 8
Sept. 14
Sept. 25
Receipts
Receipts
600
P2.10
500
?
Sales
1,250
4.00
The company uses the FIFO. Gross margin for
September was P2,500.
What was the cost per unit of the 500 units received
on Sept. 14?
P2.08
а.
b. P2.00
С.
P1.94
d. P1.04
Transcribed Image Text:6. Tudors, Inc. purchases and resells a single item of product. Inventory at the beginning of September 2017 was 400 units, values at P1.80 each. Further receipts and sales during the month were as follows: Units Pesos Per Unit Sept. 8 Sept. 14 Sept. 25 Receipts Receipts 600 P2.10 500 ? Sales 1,250 4.00 The company uses the FIFO. Gross margin for September was P2,500. What was the cost per unit of the 500 units received on Sept. 14? P2.08 а. b. P2.00 С. P1.94 d. P1.04
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