The following information relates to Ayala Corporationpurshasing activities:

July 1


500 Units @ $7

August 1


300 Units @$9

September 1


150 Units @ $10

Assume there are 250 Units at hand at the end of the year

A) Compute the Ending Inventory and COGS assuming Ayala followsIFRS and uses the FIFO method. B) Compute the Ending Inventory andCOGS assuming Ayala follows US GAAP and uses LIFO. C) How will thedifferences between FIFO and LIFO affect Ayala's FinancialStatements?


Place New Order
It's Free, Fast & Safe

"Looking for a Similar Assignment? Order now and Get a Discount!