During January 2020, ABC Company which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: UNITS UNIT COST TOTAL COST BALANCE Balance on 01/01/20 1,000 P40 P40, 000 1,000 Purchased on 01/04/20 |600 P120 P72, 000 1,600 Sold on 01/20/20 900 700 Purchased on 01/25/20 400 P200 P80, 000 1,100 Under the moving average method, what amount should be reported as inventory at January 31, 2020?

During January 2020, ABC Company which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: UNITS UNIT COST TOTAL COST BALANCE Balance on 01/01/20 1,000 P40 P40, 000 1,000 Purchased on 01/04/20 |600 P120 P72, 000 1,600 Sold on 01/20/20 900 700 Purchased on 01/25/20 400 P200 P80, 000 1,100 Under the moving average method, what amount should be reported as inventory at January 31, 2020?

Name: What is the correct answer?A. P129,000B. P135,000C. P112,000D. P127,60
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Description: What is the correct answer?A. P129,000B. P135,000C. P112,000D. P127,600 During January 2020, ABC Company which maintains a perpetual inventory system, recordedthe following information pertaining to its inventory:UNITSUNIT COSTTOTAL COSTBALANCEBalanc

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 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....

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