C.Calculate the total ordering and carrylng costs at EOQ point.P3-4 Alex Company runs a computer supplies company. During the first few months of the.year, the accounting records shows the following transactions:JanuaryOpening stock of 400 units at a cost of P30.00 eachBought 200 units at a cost of P35.00 eachSold 350 units for P50.00 eachFebruaryMarchBought 120 units at a cost of P38.00 eachAprilMaySold 280 units for P50.00 eachTotal operating expenses during the period amounted to P5,000.Required:a,Calculate the ending inventory using FIFO, LIFO and average methodb. Determine the net income under each methodP3-5 A supplier sells MF Tires to dealers. The annual demand is approximately 1,000 tires. ThePotimates that the annual holding cost is 20 percent of

Name: C.Calculate the total ordering and carrylng costs at EOQ point.P3-4 A
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Description: C.Calculate the total ordering and carrylng costs at EOQ point.P3-4 Alex Company runs a computer supplies company. During the first few months of the.year, the accounting records shows the following transactions:JanuaryOpening stock of 400 units at

FIFO is inventory method in which inventories purchased at first will be sold first. LIFO is…

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P3-4 Alex Company runs a computer supplies company. Durlng the first few months of the year, the accounting records shows the following transactions: January Opening stock of 400 units at a cost of P30.00 each February Bought 200 units at a cost of P35.00 each March Sold 350 units for P50.00 each Bought 120 units at a cost of P38.00 each Аpril May Sold 280 units for P50.00 each Total operating expenses during the period amounted to P5,000. Required: a, Calculate the ending inventory using FIFO, LIFO and average method b. Determine the net income under each method

P3-4 Alex Company runs a computer supplies company. Durlng the first few months of the year, the accounting records shows the following transactions: January Opening stock of 400 units at a cost of P30.00 each February Bought 200 units at a cost of P35.00 each March Sold 350 units for P50.00 each Bought 120 units at a cost of P38.00 each Аpril May Sold 280 units for P50.00 each Total operating expenses during the period amounted to P5,000. Required: a, Calculate the ending inventory using FIFO, LIFO and average method b. Determine the net income under each method

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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The fellowing information han been taken from the accounting reerd ef ABC Company for last year Selling espensen Raw Mat's Iav. Jan. Raw Mar's lav. Dec. JI Lities. Factery Direct Labor Cost IS,000 162.000 Depa. Factery Purchases. Raw Mat'h. HL000 4000 Sales laseranee, Factery Supplies. Factery Admin, Expenes Indirect Laber Maistenane, Fartery WIP INV.Jan. I WIP INV. Dee. 31 Finished Goods las. Jan 2e Finished Goods lav. Dec. 31 21000 27 Requiredi 1. Prepare a schedule of cust of goods manufactured. 1. Compute the cont of goeds d. J. Using the dataerded frem ()and (2k prepare an Income Statement.
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