How much will be considered as part of ending inventory

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Reference no: EM132644544

Giannis earns P3,000/week for a 5-day work week and he is entitled to 10 paid holidays. Assume that the annual work requires 48 weeks (52 week per year less 4 weeks of paid vacation leave), determine the weekly holiday pay to be accrued.

The following inventory transactions took place on ABC Co. for the current month (arranged in date):

Purchase of 1,000 units @ P2.50 each;
Purchase of 500 units @ P3.00 each;
Sale of 1,100 units with a selling price of P6.00 each;
Purchase of 300 units at P3.50 each.

Problem 1: Using FIFO, how much will be considered as part of ending inventory?

Reference no: EM132644544

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