3. Specific identification (assuming the inventory comes from Problem 11-2 (ACP) Furlough Company began operations at the beginning of current year with 10,000 units of merchandise with unit cost of...

Extracted text: 3. Specific identification (assuming the inventory comes from Problem 11-2 (ACP) Furlough Company began operations at the beginning of current year with 10,000 units of merchandise with unit cost of P80. Purchases for the current year follow: Unit cost Units Lot No. 2,000 8,000 6,000 9,500 14,500 100 110 120 100 90 The physical inventory revealed 15,000 units on hand at year-end. Required: Compute inventory cost at year-end and cost of goods sold for the year following each method listed below. 1. FIFO - periodic 2. Weighted average periodic 3. Specific identification (assuming the inventory comes ro Lot 3, 6,000 units, and Lot 4, 9,000 units). 322 12345