Zoom Company had 30,000 units of products Z on hand at January 1, 2021 costing P 20 each. Purchases of

product Z during the month of January were as follows:

Units.

Unit Cost

Total Cost

January 5. 2022

40.000

P25

P 1.000.000

January 15, 2022 50,000

30

1,500.000

January 31. 2022 35.000

35:

1,225.000

A physical count on January 31, 2021 shows 50.000 units of product Z on hand.

QUESTION:

The FIFO inventory on January 31, 2022 should be

A. 1,675,000

B. 1,000,000

C. 1,100,000

D. 1,750,000

Zoom Company had 30,000 units of products Z on hand at January 1, 2021 costing P 20 each. Purchases of product Z during the month of January were as follows: Units Unit Cost Total Cost January 5, 2022 40.000 P 25 P 1,000,000 January 15, 2022 50,000 30 1,500,000 January 31, 2022 35.000 35 1,225.000 A physical count on January 31, 2021 shows 50,000 units of product Z on hand. QUESTION The FIFO inventory on January 31, 2022 should be OP 1.675,000 OP 1.000.000 OP 1.100,000 OP 1.750,000