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Answer and show your solution Marsh Company had 150,000 units of product A January 1, costing P21 each. Problem 10-6 (AICPA Adapted) on hand at
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Marsh Company had 150,000 units of product A January 1, costing P21 each. Problem 10-6 (AICPA Adapted) on hand at Purchases of product A during the month of Janua Units Unit cost January 10 18 200,000 250,000 100,000 23 24 28 A physical count on January 31 shows 250,000 unitsof product A on hand What is the cost of the inventory on January 31 under th FIFO method? a. 5,850,000 b. 5,550,000 c. 5,350,000 d. 5,250,000 Problem 10-7 (IAA) Jayson Company provided the following information. Units Unit cost Total cost Jan. 1 Beginning balance 8,000 70.00 560,000 6 Purchase 70.50 211,500 10,00073.50 58,800 3,000 Feb. 5 Sale Mar. 5 Purchase Mar. 8 Purchase return Apr. 10 Sale Apr. 30 Sale return . 11,000 800 73.50 300 If the FIFO cost flow method is used, what is the cost of the inventory on April 30? a. .330,750 b. 315,000 . 433,876 d. 329,360 230 Step by Step Solution
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