ABC uses the FIFO retail method of inventory valuation. For the period, the following information are...

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ABC uses the FIFO retail method of inventory valuation. For the period, the following information are available: COST P24,000 120,000 RETAIL P60,000 Unsold Merchandise at the beginning 220,000 Purchases of goods Net mark ups 20,000 Net mark downs 40,000 Sales of goods 180,000 30) If the lower or market rule is disregarded, what would be the estimated cost of ending inventory? ABC uses the FIFO retail method of inventory valuation. For the period, the following information are available: COST P24,000 120,000 RETAIL P60,000 Unsold Merchandise at the beginning 220,000 Purchases of goods Net mark ups 20,000 Net mark downs 40,000 Sales of goods 180,000 30) If the lower or market rule is disregarded, what would be the estimated cost of ending inventory?

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