Question
Use both FIFO and WEIGHTED AVE in computing the required balances: June 1 Balance800 @ P4.00 June 3 Issued50 June 5Purchased300 @ P4.50 June 6
Use both FIFO and WEIGHTED AVE in computing the required balances:
June 1 Balance800 @ P4.00
June 3 Issued50
June 5Purchased300 @ P4.50
June 6 Issued250
June 15 Issued 400
June 18 Purchased 300 @ P5.00
June 25Issued100
1.Using FIFO method compute for the cost of
a.Inventory Value
b.Materials Issued
2.Using average method compute for the cost of
a.Inventory Value
b.Materials Issued
Please help me tutor, please also include the solution so I could study how :) Thank you.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
