The inventory records of Yellow Corporation show the following purchases during its first quarter of operations: January: 15,000 units, P172,500 February: 25,000 units, P293,750 March: 10,000 units, P133,750 The March 31, inventory using the weighted average method is P180,000. What is the March 31, inventory using the first-in, first-out method?

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.