1. compute for the available for sale (units and costs) 2. compute for the number of units sold and unsold. 3. fill up the table below. 4. stock cards of moving weighted average and FIFO

Exercise 3-10 The inventory records of the RAINBOW COMPANY for the month of January. good showed the following data: Jan. 1 Balance Unit Cost 2 Purchases 1,000 1200 11 Sold 400 235 17 Purchasea 1,010 18 Sold 1.200 220 21 Purchases 30 Sold 1.400 230 i,100 31 Purchases returns( Jan. 24) 100 31 Sales returns(Jan. 301 200 The physical count at the close of business on Jan. 31, 2120 showed 920 units an Hand. The selling price of the product is constant at P400 per unit REQUIRED: 1. Compute for the available for sale (units and costs), 3. Compute the number of units sold and unsold. J. Fill up the table below: Cost of Ending Gross Other Sales Inventory Profit Accounts Weighted average Moving weighted average FIFO, perpetual FIFO, periodic Note: Carry unit cost computations to two decimals; tolala to the nearest whole peso, Additional requirements: L. Stock cardy- moving weighted average and FIFO. Prepare the correct entries in Jan., 2020 under the periodic inventory system (FIFCJ). Include end of the month adjusting and closing entries. 3. Prepare the correct entries in Jan., 2020 under the perpetual inventory system (moving weighted average). Include end of the month adjusting and closing entries