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Problem 16: Inventory Costing Method The inventory stock card of Beth Corporation on January 2030 is as follows: Units Balance Purchase Unit Price Sold Units 10,000 5,000 20,000 20,500 15,000 Jan. 1 100 10,000 Jan. 15 5,000 15,000 500 Jan. 18 110 Jan. 20 100 Jan. 30 5,500 Required: Compute the ending inventory cost using a. Moving Average method b. FIFO method c. LIFO method

Problem 16: Inventory Costing Method The inventory stock card of Beth Corporation on January 2030 is as follows: Units Balance Purchase Unit Price Sold Units 10,000 5,000 20,000 20,500 15,000 Jan. 1 100 10,000 Jan. 15 5,000 15,000 500 Jan. 18 110 Jan. 20 100 Jan. 30 5,500 Required: Compute the ending inventory cost using a. Moving Average method b. FIFO method c. LIFO method

FINANCIAL ACCOUNTING
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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Compute the ending inventory cost using : a. Moving Average Method b. FIFO Method c. LIFO Method
125 100 E 2,500 Required: Compute the total inventory on December 31, using the lower of co- and net realizable value. Problem 16: Inventory Costing Method The inventory stock card of Beth Corporation on January 2030 is as follows: Purchase Units Balance Price Unit Sold Units 10,000 10,000 5,000 20,000 20,500 15,000 Jan. 1 100 Jan. 15 5,000 Jan. 18 110 15,000 Jan. 20 100 500 Jan. 30 5,500 Required: Compute the ending inventory cost using a. Moving Average method b. FIFO method c. LIFO method Problem 17: Gross vs. Net Method ABC Corp. purchased materials at an invoice price of P200,000; terms 7- n/30 on April 1, 2020.
Transcribed Image Text:125 100 E 2,500 Required: Compute the total inventory on December 31, using the lower of co- and net realizable value. Problem 16: Inventory Costing Method The inventory stock card of Beth Corporation on January 2030 is as follows: Purchase Units Balance Price Unit Sold Units 10,000 10,000 5,000 20,000 20,500 15,000 Jan. 1 100 Jan. 15 5,000 Jan. 18 110 15,000 Jan. 20 100 500 Jan. 30 5,500 Required: Compute the ending inventory cost using a. Moving Average method b. FIFO method c. LIFO method Problem 17: Gross vs. Net Method ABC Corp. purchased materials at an invoice price of P200,000; terms 7- n/30 on April 1, 2020.
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