15. Macdohad 150,000 units of product A on hand at January 1, 2020, costing P21 each. Purchases of Product A during the month were as follows: Units Unit Cost January 5 January 18 January 30 200,000 P22 250,000 23 100,000 24 A physical count on January 31, 2020 shows 250,000 units of Product A on hand. What is the cost of the inventory at January 31, 2020 under FIFO method?
15. Macdohad 150,000 units of product A on hand at January 1, 2020, costing P21 each. Purchases of Product A during the month were as follows: Units Unit Cost January 5 January 18 January 30 200,000 P22 250,000 23 100,000 24 A physical count on January 31, 2020 shows 250,000 units of Product A on hand. What is the cost of the inventory at January 31, 2020 under FIFO method?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 7MC: Questions M7-6 and M7-7 are based on the following data: City Stationers Inc. had 200 calculators on...
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