Reference no: EM132761409
The following data were taken from the accounting records of Cooka Lamps, Inc
Balance at January 1, 2020 5,000 lamps @ P30
Purchases: January 8,2020 1,200 lamps @ P32P137,760
January 20, 2020 800 lamps @ P34
Sales: January 6, 2020 1,600 lamps
January 14, 2021 1,020 lamps
On January 31, 2020, it was determine by physical count that 4,200 lamps were on hand
Problem 1: If Cooka Lamps uses a periodic inventory system, the cost of the inventory using the weighted average cost flow assumption at January 31, 2020 is
a. P129,360
b. P130,968
c. P134,400
d. P137,760
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