Related data of Ruffa Company: Beginning balance Raw Materials Inventory 96,000 Work in process inventory 240,000 Finished goods inventory 280,000 (700 units) The entity completed 5,000 units with a total cost of P2,125,000 The entity sold 4,800 units at 50% based on cost. The entity uses the perpetual inventory system and First-In, First-Out (FIFO) inventory cost system. How much is the cost of goods sold?
Related data of Ruffa Company:
Beginning balance
Raw Materials Inventory 96,000
Work in process inventory 240,000
Finished goods inventory 280,000 (700 units)
The entity completed 5,000 units with a total cost of P2,125,000
The entity sold 4,800 units at 50% based on cost.
The entity uses the perpetual inventory system and First-In, First-Out (FIFO) inventory cost system.
How much is the cost of goods sold?
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