Gil Co. purchased four items of inventory at a bulk price of P9,000,000. The fair value of each item of inventory purchased are as follows: A- P4,000,000, B-P3,000,000, C-P2,000,000, D – P1,000,000. How much is the cost to be allocated to Inventory C?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Gil Co. purchased four items of inventory at a bulk price of P9,000,000.
The fair value of each item of inventory purchased are as follows: A-
P4,000,000, B-P3,000,000, C-P2,000,00O, D – P1,000,000. How much is
the cost to be allocated to Inventory C?
Transcribed Image Text:Gil Co. purchased four items of inventory at a bulk price of P9,000,000. The fair value of each item of inventory purchased are as follows: A- P4,000,000, B-P3,000,000, C-P2,000,00O, D – P1,000,000. How much is the cost to be allocated to Inventory C?
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