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What is the realized holding gain on inventory

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Question - On January 1, 2021, Authentic Company purchased 50,000 units at P100 per unit. During the year, the entity sold 40,000 units at P180 per unit. The entity is paid P700,000 for operating expenses. The current replacement cost of the inventory on Dec. 31, 2021 is P150 per unit.

Required -

a. What is the realized holding gain on inventory for 2021?

b. What is the unrealized holding gain on inventory for 2021?

c. What is the net income under current cost accounting for 2021?

d. What is the net income under historical cost accounting for 2021?

Reference no: EM133178457

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