Use the problem (Emcee Company) but assume that there is also a purchase return of 150 units costing P43 each on Dec. 23 and a sales return of 3,000 units on Dec. 29 from the Dec. 28 sales. Compute for the following: 1. FIFO method, cost of goods sold 2. Weight average method, perpetual method, Cost of the ending inventory Note: For numerical requirements, solutions must be in good accounting form

Emcee Company provided the following information relating to inventory for the month of December: Problem 11-3 (IAA) Dec. 1 Beginning 7 Purchase 12 Sale 17 Purchase 22 Purchase 28 Sale Units Unit cost Unit selling price 10,000 S52 30,000 50 20,000 90 60,000 45 20,000 43 70,000 ho90