Edward Company provided the following inventory data for the month of April 2021: Unit Unit Cost P520 Apr. 01 Balance 10 Purchase 600 1,600 450 550 580 28 Purchase The company applied periodic system and based on the additional information given, the ending inventory for the month was 850 units. Compute for the cost of ending inventory under FIFO method. a. P481,000 b. P480,250 c. P467,500 d. P493,000 Compute for the cost of ending inventory under weighted average method. a. P476,155.42 b. P472,822.02 c. P466,056.60 d. P460,010.23 Compute for the cost of goods sold under weighted average method. a. P984,019.20 b. P986,943.40 c. P980,910.30 d. P978,942.10
Edward Company provided the following inventory data for the month of April 2021: Unit Unit Cost P520 Apr. 01 Balance 10 Purchase 600 1,600 450 550 580 28 Purchase The company applied periodic system and based on the additional information given, the ending inventory for the month was 850 units. Compute for the cost of ending inventory under FIFO method. a. P481,000 b. P480,250 c. P467,500 d. P493,000 Compute for the cost of ending inventory under weighted average method. a. P476,155.42 b. P472,822.02 c. P466,056.60 d. P460,010.23 Compute for the cost of goods sold under weighted average method. a. P984,019.20 b. P986,943.40 c. P980,910.30 d. P978,942.10
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Edward Company provided the following inventory data for the month of April 2021:
Unit
Unit Cost
Apг. 01 Balance
10 Purchase
600
P520
1,600
550
28 Purchase
450
580
The company applied periodic system and based on the additional information given, the
ending inventory for the month was 850 units.
8. Compute for the cost of ending inventory under FIFO method.
a. P481,000
b. P480,250
c. P467,500
d. P493,000
9. Compute for the cost of ending inventory under weighted average method.
c. P466,056.60
d. P460,010.23
a. P476,155.42
b. P472,822.02
10. Compute for the cost of goods sold under weighted average method.
a. P984,019.20
b. P986,943.40
c. P980,910.30
d. P978,942.10
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