Justin Manufacturing wants to compute for the inventory valuation of its raw materials. Below are the data for the month of June:

June 1 Balance1, 000 @ P4.00

June 3 Issued100

June 5Purchased500 @ P3.50

June 6 Issued400

June 18 Purchased500 @ P5.00

June 25 Issued200

1)Using FIFO method compute for the cost of ending Inventory Value

2)Using FIFO method, compute for the cost of Materials Issued

3)Using the moving average method compute for the cost of Inventory Value

Answer rating: 100% (QA)

To compute the inventory valuation using FIFO method 1 Cost of Ending Inventory Value First we use t... View the full answer