Question: What is the proper solution to this problem? 7. The Starry Merchandising is involved in buying and selling of cotton shirts. Information as to balances

What is the proper solution to this problem?

What is the proper solution to this problem? 7.
7. The Starry Merchandising is involved in buying and selling of cotton shirts. Information as to balances per hand, purchases and sales are given in the following table: In Units Amount in Philippine Peso Date Purchases Sales Balance Unit cost Purchases Balance Jan 1 1,000 P150 P150,000 Jan 24 3,000 4,000 156 P468,000 March 16 2,200 1,800 June 11 2,500 4,300 160 400,000 August 18 1,300 3,000 Sept 16 1,100 1,900 October 15 1,500 3,400 170 255,000 Dec 29 1,300 2,100 What would be the inventory cost to be reported in statement of financial if the Company is using weighted average - periodic? 8. Starlight Company is organized at the beginning of 2021 and decided to use moving average method or weighted average - perpetual in its inventory valuation. Information as to purchases and sales of merchandise follows: (Round-off unit cost to the nearest centavo) Date Transaction Units Unit Cost Jan 4 Purchases 19,000 P55 12 Sales 13,500 19 Purchases 6,200 58 22 Sales 9,100 29 Purchases 4,800 60 What would be the inventory cost to be reported in the statement of financial of Starlight Company on January 31, 2021

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