The data given below relate to Materials AAA used by Jose Company:  Beginning balance, 480 at P4.80 each  Purchase Order #30, 600 at P4.90 each  Requisition #46, 175  Requisition #49, 225  Requisition #50, 280  Purchase Order #96, 400 at P4.95 each  Requisition #52, 310  Returned materials report 24 (from requisition #50), 20 What is the cost of ending inventory using the FIFO costing method? a. P2,519.00 b. P2,421.00 c. P2,500.00 d. P2,400.00

The data given below relate to Materials AAA used by Jose Company:  Beginning balance, 480 at P4.80 each  Purchase Order #30, 600 at P4.90 each  Requisition #46, 175  Requisition #49, 225  Requisition #50, 280  Purchase Order #96, 400 at P4.95 each  Requisition #52, 310  Returned materials report 24 (from requisition #50), 20 What is the cost of ending inventory using the FIFO costing method? a. P2,519.00 b. P2,421.00 c. P2,500.00 d. P2,400.00

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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