Extracted text: Lockout Company revealed the following inventory transactions: Jan. 1 Beginning balance, 16,000 units @ P140 5 Purchased 4,000 units @ P150 10 Issued 15,000 units to production 15 Purchased 20,000 units @ P160 16 Returned 1,000 units to supplier from January 15 purchase 25 Issued 8,000 units to production 26 Production returned 4,000 units to storeroom from the January 25 issue 31 Purchased 30,000 units @ P150 What is the cost of the inventory on January 31 using FIFO method?
Extracted text: The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead coata incurred during the year: Property taxes - factory Utilities - factory P 1,600 2,600 5,100 13,000 2,500 P24,800 Indirect labor Depreciation - factory Insurance - factory Total Actual FOH costs Other coata incurred during the year: Purchases of raw materials Direct labor cost P 15,000 22,000 Inventoriea: Raw materials, beginning Raw materials, ending Work-in-process, beginning Work-in-process, ending P5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was P4.00 per machine-hour; a total of 6,000 machine-hours wers, recorded for the year. Compute for the cost of goods manufactured for the year.