. At year-end, Photomath Permi Company purchased goods costing P500,000 FOB destination. These goods were received at year-end. The cost incurred in connection with the sale and delivery of goods were: Packaging for shipment P10,000, Shipping P10,000, Special handling charges P25,000. What total cost should be included in inventory at year-end?
. At year-end, Photomath Permi Company purchased goods costing P500,000 FOB destination. These goods were received at year-end. The cost incurred in connection with the sale and delivery of goods were: Packaging for shipment P10,000, Shipping P10,000, Special handling charges P25,000. What total cost should be included in inventory at year-end?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 4C
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1. At year-end, Photomath Permi Company purchased goods costing P500,000 FOB destination. These goods were received at year-end. The cost incurred in connection with the sale and delivery of goods were: Packaging for shipment P10,000, Shipping P10,000, Special handling charges P25,000.
What total cost should be included in inventory at year-end?
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