Question: Problem 11-9 and 11-11. with clear explanation and formatting please. ASAP. Thank you! Problem 11-11 (IAA) Creature Company which used the periodic inventory system provided

Problem 11-9 and 11-11. with clear explanation and formatting please. ASAP. Thank you!

Problem 11-9 and 11-11. with clear explanation and formatting please. ASAP. Thankyou! Problem 11-11 (IAA) Creature Company which used the periodic inventory system

Problem 11-11 (IAA) Creature Company which used the periodic inventory system provided the following transactions for June: Purchases Sales June 3,000 at 300 June 3 2,500 at 500 7,500 at 304 9 6,500 at 500 8 4,000 at 320 11 3,000 at 550 6,000 at 325 23 6,000 at 550 21 3,500 at 330 27 4,500 at 600 30 2,500 at 313 Required: Compute the cost of ending inventory under FIFO and average method.Problem 11-9 (AICPA Adapted) Narra Company used the FIFO cost flow method in measuring raw material inventory. However, weighted average costs are used in valuing annual incremental layers. Composition of the December 31, 2019 inventory: Weighted average Units unit cost Total cost Base year inventory 9,000 100 2017 900,000 2018 3,000 110 Incremental layer 330,000 Incremental layer 2019 2,000 125 250,000 Inventory, December 31, 2019 14,000 1,480,000 2020 Mar. 1 4,800 units were purchased at a unit cost of P135 for P648,000. Sept. 1 7,200 units were purchased at a unit cost of P140 for P1, 008,000. A total of 15,000 units were used for production in 2020. 2021 Jan. 10 7,500 units were purchased at a unit cost of P145 for P1, 087,500. May 10 5,500 units were purchased at a unit cost of P155 for P852,500. Dec. 29 7,000 units were purchased at a unit cost of P160 for P1, 120,000. A total 16,000 units were used for production during 2021. Required: 1. Inventory - December 31, 2020 2. Raw materials used for production during 2020 3. Inventory - December 31, 2021 4. Raw materials used for production during 2021

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