What is the amount of inventoryon March 31 using the movingaverage cost flow technique?During March 2021, Ginebra Company provided the below data regarding its inventory for reviewpurposes:UnitsUnit CostTotal CostMar. 1 Beginning6 Purchase16,5001402,310,000.004,200150630,000.0011 Sale15,10016 Purchase23,0001603,680,000.0017 Purchase return1,200160192,000.0026 Sale7,80029 Sales return4,80031 Purchase33,0001504,950,000.00

Moving Average Cost method of Inventory Valuation is a method of Perpetual System i.e. the unit cost…

What is the amount of inventory on March 31 using the moving average cost flow technique? During March 2021, Ginebra Company provided the below data regarding its inventory for review purposes: Units Unit Cost Total Cost Mar. 1 Beginning 16,500 140 2,310,000.00 6 Purchase 4,200 150 630,000.00 11 Sale 15,100 16 Purchase 23,000 160 3,680,000.00 17 Purchase return 1,200 7,800 4,800 160 192,000.00 26 Sale 29 Sales return 31 Purchase 33,000 150 4,950,000.00

What is the amount of inventory on March 31 using the moving average cost flow technique? During March 2021, Ginebra Company provided the below data regarding its inventory for review purposes: Units Unit Cost Total Cost Mar. 1 Beginning 16,500 140 2,310,000.00 6 Purchase 4,200 150 630,000.00 11 Sale 15,100 16 Purchase 23,000 160 3,680,000.00 17 Purchase return 1,200 7,800 4,800 160 192,000.00 26 Sale 29 Sales return 31 Purchase 33,000 150 4,950,000.00

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...

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