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MULTIPLE CIIOlCES-COxMPUTATIONAL

1. AMG Manufacturing Company which uses the periodic inventory system

showed the following transactions during the month of May.
Date Units Purchased Units Cost Units Issued
5/1 (BI) 10 P15 —

5/5 20 20 —

5/15 — — 15
5/19 ■—
— 10
5/24 15 18 —
5/30 —
— 15
What is the cost of ending inventory under the specific identification
method assuming that materials issued on 5/15 came from the 5/5
purchase, materials issued on 5/1" came from beginning inventory, and
those issued on 5/30 came froi .he 5/5 and 5/24 purchases?

a. P90
b. P85
c. F95
d. P80

Using the data in No. 1, what is the cost of ending1 inventory under the
weighted average costing method?

a. P91.ll
b. P89.12
c. P90.50
d. P88.50

3 Using the data in No. 1, what is the cost of the units issued under the
. FIFO costing method?
a. P730
b. P850
c. P830
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d. P700

3
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 1. Assuming the same data in No. 1, except that AMG Company nowChapter
$U <
r
JS ® P® Pe u inventory system. What is the cost ending inventory

under the moving average method?

a. P75.50
b. P80.65
c. P90.42
d. P91.ll

2. Using the same assumption in No. 4, what is the cost of ending

inventory under the LIFO costing method?

a. P75
b. P85
c. P80
d. P70

3
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