The following information is to be used in costing inventory on February 28: Feb 1- Beginning balance 5,800 units at P60 per unit. Feb - Issued 1,800 units to production. Feb 8 - Purchased 3,000 units at P70 per unit. Feb 9 - Issued 2,000 units. Feb 12 - Purchased 1,500 units at P75 per unit. Feb 18 - Issued to production 4,000 units. Feb 25 - Purchased 3,000 units at P80 per unit. Feb 28 - Issued to production 3,500 units. Assume the perpetual inventory system. What is the cost of materials used using Average Cost method? A P790,500 B P762,538 CP750,500 D P773,583

The following information is to be used in costing inventory on February 28: Feb 1- Beginning balance 5,800 units at P60 per unit. Feb - Issued 1,800 units to production. Feb 8 - Purchased 3,000 units at P70 per unit. Feb 9 - Issued 2,000 units. Feb 12 - Purchased 1,500 units at P75 per unit. Feb 18 - Issued to production 4,000 units. Feb 25 - Purchased 3,000 units at P80 per unit. Feb 28 - Issued to production 3,500 units. Assume the perpetual inventory system. What is the cost of materials used using Average Cost method? A P790,500 B P762,538 CP750,500 D P773,583

Name: Kindly answer the 2 questions. The following information is to be used
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Description: Kindly answer the 2 questions. The following information is to be used in costing inventory on February 28:Feb 1- Beginning balance 5,800 units at P60 per unit.Feb - Issued 1,800 units to production.Feb 8 - Purchased 3,000 units at P70 per unit.Feb 9

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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