During June, the following changes in inventory item 27 took place:June 1 Balance1,400 units @ P2414 Purchased800 units @ P36700 units @ P3024 Purchased8 Sold400 units @ P5010 Sold1,000 units @ P4029 Sold600 units @ P44Find:*5 ventory under FIFÓh End:------V- mAer IFOd. COGS under LIFOe. Gross Profit under FIFOf. Gross Profit under LIFO

Name: During June, the following changes in inventory item 27 took place:Ju
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Description: During June, the following changes in inventory item 27 took place:June 1 Balance1,400 units @ P2414 Purchased800 units @ P36700 units @ P3024 Purchased8 Sold400 units @ P5010 Sold1,000 units @ P4029 Sold600 units @ P44Find:*5 ventory under FIFÓh En

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During June, the following changes in inventory item 27 took place: 1,400 units @ P24 800 units @ P36 700 units @ P30 June 1 Balance 14 Purchased 24 Purchased 8 Sold 400 units @ P50 10 Sold 1,000 units @ P40 29 Sold 600 units @ P44 Find: " veTItory under FIFO h End: -------Inner FO d. COGS under LIFO e. Gross Profit under FIFO f. Gross Profit under LIFO

During June, the following changes in inventory item 27 took place: 1,400 units @ P24 800 units @ P36 700 units @ P30 June 1 Balance 14 Purchased 24 Purchased 8 Sold 400 units @ P50 10 Sold 1,000 units @ P40 29 Sold 600 units @ P44 Find: " veTItory under FIFO h End: -------Inner FO d. COGS under LIFO e. Gross Profit under FIFO f. Gross Profit under LIFO

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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