The following data relate to the first three years of operations for Lemon Company: 2018 Profit-FIFO -
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Question:
The following data relate to the first three years of operations for Lemon Company:
2018
Profit-FIFO - P300,000
Profit-WA - P120,000
EI-FIFO - P550,000
2019
Profit-FIFO - P450,000
Profit-WA - P160,000
EI-FIFO - P320,000
2020
Profit-FIFO - P120,000
Profit-WA - P670,000
EI-FIFO - P710,000
How much is the ending inventory in 2020 using the weighted average (WA) method?
a. P1,060,000
b. P710,000
c. P360,000
d. P350,000
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Related Book For 
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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