The following information was made available for a particular product sold by Yellow Company:April 2Purchase700 units @ Php 158April 6Sale600 units @ Php 200April 12Purchase800 units @ Php 164April 18Sale700 units @ Php 220April 24Purchase500 units @ Php 170 There was no inventory of this particular product at the start of April. B. Assume that Yellow uses the perpetual inventory system, compute the ending inventory, cost of goods sold, and gross profit for this product if the inventory costing method used is:FIFOLIFOMoving average

Name: The following information was made available for a particular product
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Description: The following information was made available for a particular product sold by Yellow Company:April 2Purchase700 units @ Php 158April 6Sale600 units @ Php 200April 12Purchase800 units @ Php 164April 18Sale700 units @ Php 220April 24Purchase500 units @

Date Purchase Cost of goods sold Balance Inventory Quantity Cost per Unit (In Php) Total Cost…

Answered: The following information was made…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.11E: Inventory Costing Methods VanderMeer Inc. reported the following information for the month of...

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The following information was made available for a particular product sold by Yellow Company:

April 2	Purchase	700 units @ Php 158
April 6	Sale	600 units @ Php 200
April 12	Purchase	800 units @ Php 164
April 18	Sale	700 units @ Php 220
April 24	Purchase	500 units @ Php 170

There was no inventory of this particular product at the start of April.

B. Assume that Yellow uses the perpetual inventory system, compute the ending inventory, cost of goods sold, and gross profit for this product if the inventory costing method used is:

FIFO
LIFO
Moving average

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