ABC Co. a wholesaler has the following information for the month of Aug Date Transaction Units Unit cost Aug 1 Beginning 400 10 12 Purchase 600 12 16 Sales 500 18 Purchase 300 15 22 Sales 200 29 Purchase 400 14 30 Sale 400 4. Using perpetual inventory system under FIFO method, how much is the ending inventory and cost of sales, respectively?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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the question is in the picture. choose the letter of answer

a. P 8,600 and P 12,700, respectively
b. P 8,000 and P 12,500, respectively
c. b. P 8,600 and P 11,200, respectively
d. b. P 8,000 and P 11,200, respectively
ABC Co. a wholesaler has the following information for the month of Aug
Date
Transaction
Units
Unit cost
Aug 1
Beginning
400
10
12
Purchase
600
12
16
Sales
500
18
Purchase
300
15
22
Sales
200
29
Purchase
400
14
30
Sale
400
4. Using perpetual inventory system under FIFO method, how much is the ending inventory and cost of
sales, respectively?
Transcribed Image Text:ABC Co. a wholesaler has the following information for the month of Aug Date Transaction Units Unit cost Aug 1 Beginning 400 10 12 Purchase 600 12 16 Sales 500 18 Purchase 300 15 22 Sales 200 29 Purchase 400 14 30 Sale 400 4. Using perpetual inventory system under FIFO method, how much is the ending inventory and cost of sales, respectively?
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