P3-6 Wogdivorks Gompany deals in furniture.and uses perlodlcinventöry syste transaction occurred.durinig the month of March, 2014, - No: of Chalrs Unit Cost Total 100 50 Date: Description Opening Inventory. New Purchäses 20-Mar-14 New Purchases 1-Mar-14 15-Mar-14 P4,000 P40 42 2,100 3,375. 75 45

P3-6 Wogdivorks Gompany deals in furniture.and uses perlodlcinventöry syste transaction occurred.durinig the month of March, 2014, - No: of Chalrs Unit Cost Total 100 50 Date: Description Opening Inventory. New Purchäses 20-Mar-14 New Purchases 1-Mar-14 15-Mar-14 P4,000 P40 42 2,100 3,375. 75 45

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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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

Compute ending inventory and cost of goods solds under each of the following methods:

A. Weighted average cost

PS-6 Wogdivorks Gompany deals in furniture and uses perlodlcinventory system ihệ TallowinD
o Wagdworks Gompany deals in furnture and use's perlodicinventory systen eTlowino
transaction occurred.durinig the month of March, 2014.
No: of
Date:
1-Mar-14
15-Mar-14
20-Mar-14 New Purchases
Descriplion
Opening Inventory.
New Purchases
Chalrs Unit Cost Total
P4,000
2,100
3,375
9,475
P40
42
45
100
50
75
Total
225
The Company sold 200 chairsin-March 2014.
Required: Compute ending inventory and cost of goods sold under each of the following.
methods.

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