7. Cost Flow (Single Transaction). VRL Enterprises uses the moving average method to determine the cost of its inventory. During August 2020, VRL recorded the following information pertaining to its inventory: Unit cost P10 Total cost P200,000 Balance, August 1 Sale, August 15 Purchase, August 22 Units 20,000 17,500 10,000 P16 P 160,000 What amount of inventory should VRL report in its August 31, 2020 statement of financial position? 8. Inventory Cost and NRV: Estimation. Commodity Hyper sells for P2,400; selling expenses are P440; normal profit is P600. The cost of Commodity Hyper is P1,500 and the replacement cost is P1,200. Compute for the lower of cost and net realizable value of Commodity Hyper