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What the inventory balance under fifo perpetual is

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Reference no: EM132905617

Snoopdog Company's purchases in its first four months of operations were as follows:

                                                         First Quarter             Second Quarter            Third Quarter        Fourth Quarter

Number of units                              3,500                         9,200                    6,400                    3,700

Cost                                           27,300                      77,280                         64,960                  36,815

Inventory balance at the end of the year using LIFO - periodic is valued at P39,060.

Problem 1: The inventory balance under FIFO perpetual is

A. 39,060 B. 44,348 C. 47,660 D. 48,995

Problem 2: The cost of sales under the Weighted-Average cost flow assumption is

A. 167,295 B. 162,006 C. 157,360 D. 158,695 

Problem 3: Assuming that the percentage of the total goods sold were 10% in first quarter; 45% in second quarter; 20% in third quarter and 25% in December, the ending inventory to be reported under the Moving-Average cost flow assumption is

Reference no: EM132905617

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