Required: Compute for the closing inventory and cost of sales under the weighted average periodic method and the moving average method. PROBLEM 11: The following information has been extracted from the records of CCC Companyabout one of its products:NumberUnitof Units1,600600CostP 14.0014.10DateTransactionBeginning balancePurchased1/11/62/53/193/244/106/227/318/4Sold at P24.00 per unit2,000Purchased14,702,2001601,40016,8003,600Purchase returns14.70Sold at P24.20 per unitPurchased15.00Sold at P26.50 per unitSales returns at P26.50 per unit40Sold at P27 per unit9/411/1512/287,0001,0006,200Purchased16.00Sold at P30 per unit

Name: Required: Compute for the closing inventory and cost of sales under th
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Description: Required: Compute for the closing inventory and cost of sales under the weighted average periodic method and the moving average method. PROBLEM 11: The following information has been extracted from the records of CCC Companyabout one of its products:

PROBLEM 11 : Using weighted average method, Cost per unit as on Jan 6 = P14 + 14.1/2…

Business

Accounting

PROBLEM 11: The following information has been extracted from the records of CCC Company about one of its products: Number of Units 1,600 600 2,000 2,200 160 1,400 16,800 3,600 40 Unit Date 1/1 1/6 2/5 3/19 3/24 Transaction Beginning balance Purchased Sold at P24.00 per unit Purchased Purchase returns Cost P14.00 14.10 14.70 14.70 4/10 6/22 7/31 8/4 Sold at P24.20 per unit Purchased Sold at P26.50 per unit Sales returns at P26.50 per unit 15.00 Sold at P27 per unit Purchased Sold at P30 per unit 9/4 7,000 1,000 6,200 16.00 11/15 12/28

PROBLEM 11: The following information has been extracted from the records of CCC Company about one of its products: Number of Units 1,600 600 2,000 2,200 160 1,400 16,800 3,600 40 Unit Date 1/1 1/6 2/5 3/19 3/24 Transaction Beginning balance Purchased Sold at P24.00 per unit Purchased Purchase returns Cost P14.00 14.10 14.70 14.70 4/10 6/22 7/31 8/4 Sold at P24.20 per unit Purchased Sold at P26.50 per unit Sales returns at P26.50 per unit 15.00 Sold at P27 per unit Purchased Sold at P30 per unit 9/4 7,000 1,000 6,200 16.00 11/15 12/28

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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