4. Cost Flow (FIFO and Moving Average). KDS Clothing sells jeans. During October 2020, its inventory records for one brand of designer jeans were as follows: Beginning inventory Oct. 6 Purchase Oct. 10 Sale Oct. 15 Purchase Oct. 20 Sale Oct. 25 Purchase 100 pairs @ P120 40 pairs @ P125 50 pairs 70 pairs @ P130 100 pairs 40 pairs @ P130 a. Determine the periodic FIFO cost of goods sold. b. Determine the ending inventory using moving average method (carry calculations to 4 decimal places and round off to 3). 5. Cost Flow (FIFO). The Pine Shop shows the following data related to an item of inventory: Inventory, January 1 Purchase, January 9 Purchase, January 19 Inventory, January 31 100 units @ P50 300 units @ P54 90 units @ P60 150 units a. What value should be assigned to the ending inventory using FIFO? b. What value should be assigned to cost of goods sold using FIFO? 6. Gross and Net Method. Ace Corporation specializes in the sale of printing machine. It had the following transactions with one of its suppliers: Purchases of machines Purchase returns and allowances Purchase discounts taken P 3,400,000 100,000 34,000 Purchases were made throughout the year on terms 2/10, n/30. All returns and allowances took place within 7 days of purchase and prior to any payment on account. How much is purchase discount lost