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The inventory record of Lerma Trading showed the following data relative to a particular items sold regularly Units Transaction Unit Cost 2,000 Beginning Inventory P50
The inventory record of Lerma Trading showed the following data relative to a particular items sold regularly Units Transaction Unit Cost 2,000 Beginning Inventory P50 Purchases 18,000 52 Sales (@P73 per unit) 7,000 Purchases 8,000 55 Sales (@P73 per Unit) 16,000 Purchases 3,000 80 Sales (@ P75 per Unit) 1,525 Using FIFO Method compute and match Cost of Ending Inventory. Cost of Goods Sold and other below 1. P476,075 2. P1,546,000 Ending Inventory 3. P1,284,875 Sales Revenue 4. P1,793,375 DOOOO Cost of Goods Available for Sale 5. P1317,300 6. P508,500 Gross profit 7. P261,125 Cost of Goods Sold 8. P228,700 9. P258,375
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