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2022, its inventory records for one brand of designer jeans were as follows: Beginning Inventory                   10 pairs  @  P20   = P200 January 6   Purchase                     4 pairs  @   25    =  100 January 10 Sale                             5 pairs

2022, its inventory records for one brand of designer jeans were as follows: Beginning Inventory                   10 pairs  @  P20   = P200 January 6   Purchase                     4 pairs  @   25    =  100 January 10 Sale                             5 pairs

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Guess Clothing Store sells jeans.  During January 2022, its inventory records for one brand of designer jeans were as follows:

Beginning Inventory                   10 pairs  @  P20   = P200
January 6   Purchase                     4 pairs  @   25    =  100
January 10 Sale                             5 pairs
January 15 Purchase                     7 pairs   @  30    =   210
January 20 Sale                           10 pairs
January 25 Purchase                     4 pairs    @ 30     =  120

 How much is the Cost of Goods Sold using FIFO Periodic?
 
a. 330
b. 300
c. 430
d. 250
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