Marsh Company had 150,000 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were as follows: Units Unit cost January 10 200,000 22 18 250,000 23 28 100,000 24 A physical count on January 31 shows 250,000 units of product A on hand. What is the cost of the inventory on January 31 under the FIFO method?

Marsh Company had 150,000 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were as follows: Units Unit cost January 10 200,000 22 18 250,000 23 28 100,000 24 A physical count on January 31 shows 250,000 units of product A on hand. What is the cost of the inventory on January 31 under the FIFO method?

Name: Marsh Company had 150,000 units of product A on hand at January1, cos
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Description: Marsh Company had 150,000 units of product A on hand at January1, costing P21 each. Purchases of product A during the month ofJanuary were as follows:UnitsUnit costJanuary 10200,0002218250,0002328100,00024A physical count on January 3 1 shows 250,00

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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