accounting help 56. The beginning inventory was 100 units at P1,000 per unit. Purchases for the period were as follows:First batch, 900 units at P1,100 per unitSecond batch, 500 units at P1,200 per unitP 99,000600,000Physical count at end of the period was 50 units. Under FIFO costing, the value of ending inventory wouldbea 60,000b. 55,000c. 50,000d. 45,000

The ending inventory is calculated as difference between cost of goods available for sale and cost…

Answered: 56. The beginning inventory was 100…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 7EA: How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 Units...

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Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.
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