Arthuro Company made the following materials purchases and issues during March

2010:
Units Price
Inventory: March 1 1,250 P30.00
Receipts: March 2 500 31.25
March 9 1,000 32.50
March 24 1,250 35.00
Issues: March 14 1,400
March 29 1,000

REQUIRED: Compute the cost of materials consumed and the cost assigned to the
inventory at the end of the month, using perpetual inventory system combined with each
of the following:

A. FIFO Costing
Date Receipts Issues Balance
Quantity Unit Amount Quantity Unit Amount Quantity Unit Amount
Cost Cost Cost
March 1 Balance 1,250 P30 P37,500
2 P500 P31.25 P15,625 1,250 30 37,500
500 31.25 15,625
9 1,000 32.50 32,500 1,250 30 37,500
500 31.25 15,625
1,000 32.50 32,500
14 1,250 P30 P37,500 350 31.25 10,937.50
150 31.25 4,687.50 1,000 32.50 32,500
24 1,250 35 43,750 350 31.25 10,937.50
1,000 32.50 32,500
1,250 35 43,750
29 350 31.25 10,937.50 350 32.50 11,375
650 32.50 21,125 1,250 35 43,750
Total 1,600 P55,125

C. Average Costing
Date Receipts Issues Balance
Quantity Unit Amount Quantity Unit Amount Quantity Unit Amount
Cost Cost Cost
March 1 Balance 1,250 P30 P37,500
2 P500 P31.25 P15,625 1,750 30.4 53,125
9 1,000 32.50 32,500 2,250 38 85,625
14 1,000 P38 P38,000 1,250 38 47,625
24 1,250 35 43,750 2,500 36.50 91,375
29 1,000 36.50 36,500 1,500 P36.5 P54,875
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