Related data of Ruffa Company: Raw Materials Inventory Work in process inventory Finished goods inventory Beginning...

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Related data of Ruffa Company: Raw Materials Inventory Work in process inventory Finished goods inventory Beginning balance 96,000 240,000 280,000 (700 units) The entity completed 5,000 units with a total cost of P2.125.000 The entity sold 4,800 units at 50% based on cost The entity uses the perpetual inventory system and First-In. First-Out (FIFO) inventory cost system. How much is the cost of goods sold? Related data of Ruffa Company: Raw Materials Inventory Work in process inventory Finished goods inventory Beginning balance 96,000 240,000 280,000 (700 units) The entity completed 5,000 units with a total cost of P2.125.000 The entity sold 4,800 units at 50% based on cost The entity uses the perpetual inventory system and First-In. First-Out (FIFO) inventory cost system. How much is the cost of goods sold?

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To calculate the cost of goods sold COGS we need to consider the inventory balances and the units c... View the full answer