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Questions -
Q1. Pear Company recorded the following data pertaining to one of its inventory items during January 2021.
1/1 Inventory, 800 units @ P200
1/8 Purchased 200 units at P208
1/21 Sold 400 units
1/30 Purchased 250 units @ P210
What is the moving average unit cost of this item at January 31, 2021? Round off to nearest peso.
Q2. The inventory records of Kiwi Company show the following purchases during the first quarter operations: January 15,000 units-P187,500 February 20,000 units-P240,000 March 13,000 units-P167,700 The March 31 inventory using the weighted average method is P282,720. How much is the March 31 inventory using the periodic first-in, first-out method?
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