-The EUP is 20,500 units. Cost incurred during the period is P56,250 while the cost of the beginning inventory was P10,750. The unit cost using Weighted Average method is: а. 2.22 b. 3.268 с. 2.744 d. 0.524 Assuming the company uses FIFO method, what is the unit cost? a 2.22 b. 3.268 с. 2.744 d. 0.524

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...
icon
Related questions
Topic Video
Question
The BUP is 20,500 units. Cost incurred during the period is P56,250 while
the cost of the beginning inventory was P10,750. The unit cost using
Weighted Average method is:
a. 2.22
b. 3.268
С. 2.744
d. 0.524
Assuming the company uses FIFO method, what is the unit cost?
а, 2.22
b. 3.268
с. 2.744
d. 0.524
Transcribed Image Text:The BUP is 20,500 units. Cost incurred during the period is P56,250 while the cost of the beginning inventory was P10,750. The unit cost using Weighted Average method is: a. 2.22 b. 3.268 С. 2.744 d. 0.524 Assuming the company uses FIFO method, what is the unit cost? а, 2.22 b. 3.268 с. 2.744 d. 0.524
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning