1. For this numeric question, 3 points.

a.) How much is the ending inventory under FIFO costing?

b.) How much is the ending inventory under weighted average costing?

. Dong Manufacturing wholesales animal feeds. It uses periodic inventory system. For the month of December, the beginning inventory consisted of 300 sacks of feeds at P730 each and 55 sacks of feeds at P750 each. The following inventory transactions took place in December: 12/5: Sold 350 sacks for P1,200 each. 12/7: Five sacks were returned by customer. These sacks originally costed P730 each and were sold for P1,200 per sack. 12/9: Produced 70 sacks at a unit production cost of P710. 12/14: Produced 79 sacks at a total production cost of P59,250. 12/18: Sold 100 sacks for P1,350 each. 12/21: Sold 55 sacks for P1,250 each. 12/28: Produced 95 sacks at a unit production cost of P770