I.January 15715204.5.6.22III.30What is the total ending inventory?The following material transactions of MLTB Corporation in the month of January:The beginning balance of material is 200 units at P100Purchase 50 units at P120.Issued 80 units to production departmentPurchase 500 units at P90.Issued 600 units to production departmentMaterials returned to storeroom 30 units. These units had been issued in JanuaryPurchase 300 units at P110.1. FIFO2. Weighted Average3.Moving AverageAssume that the ordering cost every time an order is placed is P80. How much will the totalordering cost if the firm makes an order based on the following frequencies:7 times a year8 times a year10 times a yearMLB Corporation needs to know the quantity when placing its orders. The information. Theinformation is as follows:Units needed per yearCost per orderCarrying cost per order500 unitsP40 per orderP4 per unit7.What is the EOQ of MLB?8. What is the Optimum Number of Orders?9. What is the Total Inventory Cost? Total Inventory Cost = Total Carrying Cost + Total OrderingCost

The FIFO inventory valuation approach presupposes that the first things purchased are also the first…

1. January 1 5 7 15 20 22 30 The following material transactions of MLTB Corporation in the month of January: The beginning balance of material is 200 units at P100 Purchase 50 units at P120. Issued 80 units to production department Purchase 500 units at P90. Issued 600 units to production department Materials returned to storeroom 30 units. These units had been issued in January Purchase 300 units at P110.

1. January 1 5 7 15 20 22 30 The following material transactions of MLTB Corporation in the month of January: The beginning balance of material is 200 units at P100 Purchase 50 units at P120. Issued 80 units to production department Purchase 500 units at P90. Issued 600 units to production department Materials returned to storeroom 30 units. These units had been issued in January Purchase 300 units at P110.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

I.
January 1
5
7
15
20
4.
5.
6.
22
III.
30
What is the total ending inventory?
The following material transactions of MLTB Corporation in the month of January:
The beginning balance of material is 200 units at P100
Purchase 50 units at P120.
Issued 80 units to production department
Purchase 500 units at P90.
Issued 600 units to production department
Materials returned to storeroom 30 units. These units had been issued in January
Purchase 300 units at P110.
1. FIFO
2. Weighted Average
3.
Moving Average
Assume that the ordering cost every time an order is placed is P80. How much will the total
ordering cost if the firm makes an order based on the following frequencies:
7 times a year
8 times a year
10 times a year
MLB Corporation needs to know the quantity when placing its orders. The information. The
information is as follows:
Units needed per year
Cost per order
Carrying cost per order
500 units
P40 per order
P4 per unit
7.
What is the EOQ of MLB?
8. What is the Optimum Number of Orders?
9. What is the Total Inventory Cost? Total Inventory Cost = Total Carrying Cost + Total Ordering
Cost

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Hh1.
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