An entity provided the following records connected to its inventory transactions: Date and transaction Units Unit cost January 1 balance 40,000 P 20 February 10 sale 30,000 April 12 purchase 60,000 P 25 September 20 sale 59,000 November 28 purchase 40,000 P 30 The entity used the moving average method. At December 31, the entity determined that the NRV per unit is P 23 (Round to two decimal places) 30. What is the cost of the inventory at December 31? a. 1,173,000 b. 1,275,000 c. 1,475,000 d. 1,466,890

An entity provided the following records connected to its inventory transactions: Date and transaction Units Unit cost January 1 balance 40,000 P 20 February 10 sale 30,000 April 12 purchase 60,000 P 25 September 20 sale 59,000 November 28 purchase 40,000 P 30 The entity used the moving average method. At December 31, the entity determined that the NRV per unit is P 23 (Round to two decimal places) 30. What is the cost of the inventory at December 31? a. 1,173,000 b. 1,275,000 c. 1,475,000 d. 1,466,890

Name: An entity provided the following records connected to its inventory t
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Description: An entity provided the following records connected to its inventory transactions:Date and transactionUnitsUnit costJanuary 1 balance40,000P 20February 10 sale30,000April 12 purchase60,000P 25September 20 sale59,000November 28 purchase40,000P 30The e

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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