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What is amount of ending inventory using weighted average

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Reference no: EM133002066

Koi Corporation uses the periodic inventory system. During its first year of operations, Koi made the following purchases

  • 1,400 units at P90 per unit
  • 3,400 units at P150 per unit
  • 800 units at P120 per unit

Sales for the year totaled 4,600 units. Physical count reveals 1,000 units on hand at the end of the year. (Round unit cost to two decimals)

Problem 1. What is the amount of ending inventory using the weighted average method (rounded to nearest peso)? ________________

Problem 2. What is the amount of ending inventory using the FIFO method?

Reference no: EM133002066

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