17. On January 2020, Roel Corp. Has th following inventory purchases. January 2 5.750 7 5,100 15 7,600 25 6,600 Units Amount P7.500 5.850 6.300 4.950 A physical count of inventory on January 30 reveals that there are 1,000 units on hand. Under the LIFO inventory method, what is the value of the ending inventory on January 31, 2020?
17. On January 2020, Roel Corp. Has th following inventory purchases. January 2 5.750 7 5,100 15 7,600 25 6,600 Units Amount P7.500 5.850 6.300 4.950 A physical count of inventory on January 30 reveals that there are 1,000 units on hand. Under the LIFO inventory method, what is the value of the ending inventory on January 31, 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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17. On January 2020, Roel Corp. Has th following
inventory purchases.
January
2
5.750
7
5,100
15
7,600
25
6,600
Units
Amount
P7.500
5.850
6.300
4.950
A physical count of inventory on January 30 reveals
that there are 1,000 units on hand.
Under the LIFO inventory method, what is the value of
the ending inventory on January 31, 2020?
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