Fruitas Company uses the weighted average method to determine the cost of its inventory. During July 2020, the company recorded the following information pertaining to its inventory: Balance, July 1 Purchase, July 17 Sale, July 28 What amount of inventory should Fruitas report on July 31, 2020? O P50,000 OP52,500 O P57,500 No. of Units 20,000 10,000 25,000 OP53,750 Unit Cost P10.00 11.50 Total Cost P200,000 115,000
Fruitas Company uses the weighted average method to determine the cost of its inventory. During July 2020, the company recorded the following information pertaining to its inventory: Balance, July 1 Purchase, July 17 Sale, July 28 What amount of inventory should Fruitas report on July 31, 2020? O P50,000 OP52,500 O P57,500 No. of Units 20,000 10,000 25,000 OP53,750 Unit Cost P10.00 11.50 Total Cost P200,000 115,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1RE
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