Ash Company had 1,500 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were: Units Unit Cost January 10 200,000 22 January 18 250,000 23 January 28 100,000 24

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Ash Company had 1,500 units of product A on hand at January 1, costing P21 each.
Purchases of product A during the month of January were:
Units
Unit Cost
January 10
200.000
22
January 18
250,000
23
January 28
100,000
24
Transcribed Image Text:Ash Company had 1,500 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were: Units Unit Cost January 10 200.000 22 January 18 250,000 23 January 28 100,000 24
A physical count on January 31 shows that 250,000 units of Product A on hand.
What is the cost of the inventory on January 31 under the FIFO method?
Transcribed Image Text:A physical count on January 31 shows that 250,000 units of Product A on hand. What is the cost of the inventory on January 31 under the FIFO method?
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