The records of a company showed the following for June: Sales 4,200 units at P200 each Purchases 4,000 units at P150 each Beginning inventory 6,000 units at P100 each Assuming the periodic inventory system is used, how much is the ending inventory using the FIFO method? is 870000 correct?

The records of a company showed the following for June: Sales 4,200 units at P200 each Purchases 4,000 units at P150 each Beginning inventory 6,000 units at P100 each Assuming the periodic inventory system is used, how much is the ending inventory using the FIFO method? is 870000 correct?

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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