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How much is the cost of sales for the year ended

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Question - TOPIC: INVENTORIES SUBJECT: INTERMEDIATE ACCOUNTING - Bawi Factory started operations in 2020. Bawi manufactures bath towels. 60% of the production are called "Jiv" which sells for P 500 per dozen and 40% are called "Jik" which sell for P 250 per dozen. During 2020, 6 000 dozens were produced at an average cost of P 360 per dozen. The inventory at the end of the year was as follows: 220 doz Jiv @ 360; 300 doz Jik @ 360

Using the relative sales value method,

How much is the value of the inventory to be reported in the SFP?

How much is the cost of sales for the year ended 2020?

Reference no: EM132935743

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