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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 1
Mika Corporation uses FIFO method to calculate the value of Inventory on hand on March 31 and cost of goods sold during March. Mar 1 Beginning Inventory 68 units @ P15.00 per unit 5 Purchase 140 units @ P15.50 per unit 9 Sale 94 units @ P19.00 per unit 11 Purchase 40 units @ P16.00 per unit 16 Purchase 78 units @ P16.50 per unit 20 Sale 116 units @ P19.50 per unit 29 Sale 62 units @ P21.00 per unit 23. Under periodic inventory method, how much will be the cost of the ending inventory? 24. Under periodic inventory method, how much is the cost per unit? 25. Under perpetual inventory method, how much will be the cost of ending inventory
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