Assuming that Anthony does not maintain perpetual inventory records, what should be the cost of inventory at January 31, 2018, using the average cost inventory costing method rounded to the nearest peso? 8. The data given below relate to Material XXX used by Jose Shoes Factory, Inc. Beginning balance Purchase Order 30 480 at P4.80 each 600 at P4.90 each 175 225 280 400 at P4.95 each 310 Requisition 46 Requisition 49 Requisition 50 Purchase Order 96 Requisition 52 Returned Material Report 24 (from Requisition 50) What is the cost of ending inventory using the FIFO costing method? 20 9. Based on the data given in No. 8, what is the cost of ending inventory using the moving average inventory costing method? 10. The following data relates to the materials inventory of the Manual Garments Factory: Group I Material AA Material BB Group II Material CC Material DD Units 460 830 1,290 580 Unit Costs P140 85 120 65 Net Realizable Value Per Unit P130 90 145 55 What is the value of the inventory if the lower of cost or net realizable value method is applied to the individual items? 11. Based on the data given in No. 10, what is the value of the inventory if the lower of cost or net realizable value rule is applied to the inventory as a whole? 12. Using the same data in No. 10, what is the value of the inventory if the lower of cost or net realizable value rule is applied to the inventory by groups?