ABC Traders had the following data for Product Pink on June 20X1: Beginning balance 100 boxes at P50 Purchases: June 4 90 boxes @ P55 June 14 110 boxes @ P60 Sales June 7 120 boxes June 20 80 boxes June 27 50 boxes How much is the ending inventory under FIFO perpetual? 3,000 2,758 2,750 2,700

ABC Traders had the following data for Product Pink on June 20X1: Beginning balance 100 boxes at P50 Purchases: June 4 90 boxes @ P55 June 14 110 boxes @ P60 Sales June 7 120 boxes June 20 80 boxes June 27 50 boxes How much is the ending inventory under FIFO perpetual? 3,000 2,758 2,750 2,700

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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Question

25.ABC Traders had the following data for Product Pink on June 20X1:
Beginning balance 100 boxes at P50
Purchases:
June 4 90 boxes @ P55
June 14 110 boxes @ P60
Sales
June 7 120 boxes
June 20 80 boxes
June 27 50 boxes

How much is the ending inventory under FIFO perpetual?

3,000

2,758

2,750

2,700

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