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Lea Co.s transactions for the month of November were: a. Assuming that perpetual inventory records are kept in pesos, the ending inventory on a FIFO
Lea Co.s transactions for the month of November were:
a. Assuming that perpetual inventory records are kept in pesos, the ending inventory on a FIFO basis is?
b. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis is?
Date Nov. 1 5 9 16 25 Purchases 700 @ P8.50 950 @ P9.00 750 @ P8.75 1,000 @ P9.00 300 @ P8.40 Date Sales Nov. 2 450 @ P10.00 8 600 @ P10.00 11 500 @ P11.00 12 250 @ P12.00 20 800 @ P12.00 28 200 @ P11.50Step by Step Solution
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