An entity is a wholesaler of office supplies. The activity for Model III calculators during 2 points July is shown below. If the entity uses moving average cost method, the ending inventory of Model III calculators at July 31 is reported as Date Balance/Transactions Units Cost July 1 Inventory 2,000 P36.00 7 Purchases 3,000 37.20 12 Sales 3,600 21 Purchases 5,000 37.88 22 Sale 3,800 29 Purchases 1,600 38.11

An entity is a wholesaler of office supplies. The activity for Model III calculators during 2 points July is shown below. If the entity uses moving average cost method, the ending inventory of Model III calculators at July 31 is reported as Date Balance/Transactions Units Cost July 1 Inventory 2,000 P36.00 7 Purchases 3,000 37.20 12 Sales 3,600 21 Purchases 5,000 37.88 22 Sale 3,800 29 Purchases 1,600 38.11

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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