ANDRES Company used the moving average method to determine the cost of the inventory.
During the month of January, the entity recorded the following information pertaining to inventory?
Units
Unit Cost
Total Cost
Balance on January 1
40,000
50
2,000,000
Sold in January 17
35,000
Purchased on January 28
20,000
80
1,600,000
What amount of inventory should be reported on January 31?
a. P 2,000,000
b. P 1,850,000
c. P 1,625,000
d. P 1,500,000
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