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Inventory Management

IVERN Company has the following transaction in the month of December.

Date Transaction Cost per units


Dec 1 Beginning Inventory 68 units @ P15.00 per unit

Dec 5 Purchase 140 units @ P15.50 per unit
F
Dec 9 Sale 94 units
I F
O Dec 11 Purchase 40 units @ P16.00 per unit
Dec 16 Purchase 78 units @ P16.50 per unit
Dec 20 Sale 116 units
Dec 29 Sale 62 units
Cost of Goods Sold Units Cost/unit Total
Dec 5 94 units sold 68 P15 P 1,020
26 P15.50 403
Dec 20 116 units sold 114 P15.50 1,767
2 P16 32
Dec 28 62 units sold 38 P16 608
24 P16.50 396
TOTAL P4,226

Total Goods Available for Sale Units Cost/unit Total


Dec 1 Beg Inv. 68 P15 P 1,020
Dec 5 Purchase 140 P15.50 2,170
Dec 11 Purchase 40 P16 640
Dec 16 Purchase 78 P16.50 1,287
Total P 5,117

In Peso In Unit
Total Goods Available for Sale P 5,117 326

Cost of Goods Sold (P 4,226) 272

Ending Inventory P891 54 Units

LIFO

Cost of Goods Sold Units Cost/unit Total


Dec 5 94 units sold 78 P16.50 P 1,287
16 P16 256
Dec 20 116 units sold 24 P16 384
92 P15.50 1,426
Dec 28 62 units sold 48 P15.50 744
18 P15 270
TOTAL P4,367

Total Goods Available for Sale Units Cost/unit Total


Dec 1 Beg Inv. 68 P15 P 1,020
Dec 5 Purchase 140 P15.50 2,170
Dec 11 Purchase 40 P16 640
Dec 16 Purchase 78 P16.50 1,287
Total P 5,117

In Peso In Unit
Total Goods Available for Sale P 5,117 326
Cost of Goods Sold (P 4,367) 272

Ending Inventory P750 54 Units

Aging Of Recievables

Ivern Company shows the following information according to its information below.

Age of Account Category Estimated Estimated


PESO Uncollectibl Uncollectible
Amount e PESO Amount
Percentage
Less than 30 days P270,0000 5% P13,500

31-60 days P180,000 3% P5,400

61-90 days P130,000 8% P10,400


91-120 days P80,000 6% P4,800
Greater than 120 days P20,0000 9% P1,800
Total P680,000 P35,900
Financial
Management I
FINAL REQUIREMENT
Aging Of Recievables

Guanzon Corp. shows the following information according to its information below.

Age of Account Category Estimated Estimated


PESO Uncollectible Uncollectible
Amount Percentage PESO Amount
Less than 30 days P270,0000 5% P13,500

31-60 days P180,000 3% P5,400

61-90 days P130,000 8% P10,400


91-120 days P80,000 6% P4,800
Greater than 120 days P20,0000 9% P1,800
Total P680,000 P35,900