How much is the cost of goods sold using the specific identification method of inventory valuation? ABC Co. made the following transactions during the month of January 2021: Jan 1 Purchased 1,000 units at P4.00 12 Purchased 3,000 units at P4.40 17 Sold 2,000 units Purchased 1,000 units at P4.80 31 The units remained in the inventory on January 31 is composed of 500 units from purchases made on January 1. 1,500 units from purchases made on January 12 and 1,000 units from purchases made on January 31. O 22,000 O 13,400 O 13,200 O 8,600 O Answer not given
How much is the cost of goods sold using the specific identification method of inventory valuation? ABC Co. made the following transactions during the month of January 2021: Jan 1 Purchased 1,000 units at P4.00 12 Purchased 3,000 units at P4.40 17 Sold 2,000 units Purchased 1,000 units at P4.80 31 The units remained in the inventory on January 31 is composed of 500 units from purchases made on January 1. 1,500 units from purchases made on January 12 and 1,000 units from purchases made on January 31. O 22,000 O 13,400 O 13,200 O 8,600 O Answer not given
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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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