SOLVE FOR THE WEIGHTED AND MOVING AVERAGE Gavial, Inc. sells electric stoves. It uses the perpetual system and allocates cost to inventory on a first-in, first-out basis. The company's reporting date is December 31. At December 1, 2010, Inventory on hand consisted of 350 stoves at P820 each and 43 stoves at P850 each. During the month ended December 31, 2010, the following inventory transactions occurred (all purchase and sales transactions are on credit) DEC 1- Sold 300 stoves for P1200 each DEC 3- Five stoves were returned by customers. They had originally Cost P820 each and were sold for P1200 each. DEC 9- Purchased 55 stoves at P910 each. DEC 10- Purchased 76 stoves at P960 each. DEC 15- Sold 86 stoves for P1350 each. DEC 17- Returned one damaged stove to the supplier. This stove had been purchased on December 9. DEC 22- Sold 60 stoves for P1250 each. DEC 26- Purchased 72 stoves at P980 each What is the WEIGHTED AND MOVING AVERAGE of Gavial's inventory on December 31, 2010? A.P148, 930 B.P148,980 C.P133, 607 D.P126, 280 2. What is the cost of goods sold in December 2010? A.P367, 230 B.P371,330 C.P366,320 D.P389,9303. What is Gavial's gross profit in December 2010? A.P173, 770