P3-6 Woodiworks Company deals in furnitüre and uses periodic inventöry system. T:he follôwing transaction occurred.during the'month of March, 2014. Date: 1-Mar-14 15-Mar-14 20-Mar-14 Description Opening Inventory. New Purchäses No: of Chairs Unit Cost Total 100 50 P40 P4,000 42 2,100 New Purchases 75 45 3,375. Total 225 9,475
P3-6 Woodiworks Company deals in furnitüre and uses periodic inventöry system. T:he follôwing transaction occurred.during the'month of March, 2014. Date: 1-Mar-14 15-Mar-14 20-Mar-14 Description Opening Inventory. New Purchäses No: of Chairs Unit Cost Total 100 50 P40 P4,000 42 2,100 New Purchases 75 45 3,375. Total 225 9,475
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:P3-6 Woodivorks Company deals in furnitüre and uses periodic inventöry system. T:he following
.transaction occurred during the month of March, 2014.
No: of
Date:
1-Mar-14
15-Mar-14
Description
Opening Inventory 100
New Purchäses
Chairs Unit Cost : Total :
P40 P4,000
2,100
3,375
9,475
50
75
42
20-Mar-14 New Purchases
45
Total
225
{1
The Company sold 200.chairs in-March 2014.
Required: Compute, ending inventory and cost of goods sold under each of the following.
methods.
FIFO
.a.
b.
LIFO
Moving averåge çost
d.
Weightëd average cost
CS Scanned with CamScanner
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