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Determine the value of ending inventory

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Question - Orion Company provided the following transactions relating to its raw materials inventory during the month of September:

Quantity Unit Cost Total

Sept. 1 Beginning balance 300 P12 P3,600

3 Purchase from supplier 200 13 2,600

9 Issued to production 150

16 Purchase from supplier 300 14 4,200

18 Issued to production 350

21 Purchase from supplier 300 15 4,500

23 Issued to production 400

26 Issued to production 50

28 Purchase from supplier 200 16 3,200

Required - Determine the value of ending inventory and materials used under the following methods:

a. FIFO - periodic

b. FIFO - perpetual

Reference no: EM132997715

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