Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the traditional costing is:

Group of answer choices

a. Debit RIP Inventory P10,000 Credit Accounts Payable P10,000

b. Debit COGS 10,000 Credit Accounts Payable 10,000

d. Debit Raw Materials Inventory 10,000 Credit Accounts Payable 10,000

c. No Entry

Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the three triggers points is:

Group of answer choices

b. Debit COGS 10,000 Credit Accounts Payable 10,000

c. No Entry

d. Debit Raw Materials Inventory 10,000 Credit Accounts Payable 10,000

a. Debit RIP Inventory P10,000 Credit Accounts Payable P10,000

Question

Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the traditional costing is:

Group of answer choices

a. Debit RIP Inventory P10,000 Credit Accounts Payable P10,000

b. Debit COGS 10,000 Credit Accounts Payable 10,000

d. Debit Raw Materials Inventory 10,000 Credit Accounts Payable 10,000

c. No Entry

Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The journal entry to record the transaction using the three triggers points is:

Group of answer choices

b. Debit COGS 10,000 Credit Accounts Payable 10,000

c. No Entry

d. Debit Raw Materials Inventory 10,000 Credit Accounts Payable 10,000

a. Debit RIP Inventory P10,000 Credit Accounts Payable P10,000

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Question

Peter Senen operates in a JIT manufacturing system. For August, Peter Senen purchased 10,000 units of raw materials at P1.00 per unit on account. The

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