Pertaining below is information pertaining to Polyphemos Corporation: Cost P 24,000 190,000 26,000 Retail P 40,000 560,000 Inventory, beginning Purchases Freight In Net Mark-ups Net Markdowns Net Sales 50,000 10,000 540,000 11. How much is the ending inventory under average cost method? 12. How much is the cost of goods sold under FIFO cost method?
Pertaining below is information pertaining to Polyphemos Corporation: Cost P 24,000 190,000 26,000 Retail P 40,000 560,000 Inventory, beginning Purchases Freight In Net Mark-ups Net Markdowns Net Sales 50,000 10,000 540,000 11. How much is the ending inventory under average cost method? 12. How much is the cost of goods sold under FIFO cost method?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Pertaining below is information pertaining to Polyphemos Corporation:
Cost
Retail
Inventory, beginning
Purchases
Freight In
Net Mark-ups
Net Markdowns
Net Sales
P 24,000
190,000
26,000
P 40,000
560,000
50,000
10,000
540,000
11. How much is the ending inventory under average cost method?
12. How much is the cost of goods sold under FIFO cost method?
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