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Mika Corporation uses FIFO method to calculate the value of Inventory on hand on March 31 and cost of goods sold during March. Mar 1Beginning
Mika Corporation uses FIFO method to calculate the value of Inventory on hand on March 31 and cost of goods sold during March.
Mar 1Beginning Inventory68 units @ P15.00 per unit
5Purchase140 units @ P15.50 per unit
9Sale94 units @ P19.00 per unit
11Purchase40 units @ P16.00 per unit
16Purchase78 units @ P16.50 per unit
20Sale116 units @ P19.50 per unit
29Sale62 units @ P21.00 per unit
Under perpetual inventory method, how much will be the cost of ending inventory?
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