74. During 2016, Jose Corporation transferred inventory from its home office to its Laguna Branch at a billed price of P110,000. The inventory originally cost the company P90,000. The home office reported sales and cost of goods sold of P1,400,000 and P590,000, respectively. The Laguna branch reported sales and cost of goods sold of P675,000 and P300,000, respectively. All of the inventory had been sold by year combined statement of comprehensive income? a. P890,000 b. P870,000 c. P800,000 d. P780,000 end. What is the cost of goods sold to be reported in the 2016

74. During 2016, Jose Corporation transferred inventory from its home office to its Laguna Branch at a billed price of P110,000. The inventory originally cost the company P90,000. The home office reported sales and cost of goods sold of P1,400,000 and P590,000, respectively. The Laguna branch reported sales and cost of goods sold of P675,000 and P300,000, respectively. All of the inventory had been sold by year combined statement of comprehensive income? a. P890,000 b. P870,000 c. P800,000 d. P780,000 end. What is the cost of goods sold to be reported in the 2016

Name: 74. During 2016, Jose Corporation transferred inventory from its home
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Description: 74. During 2016, Jose Corporation transferred inventory from its home office to itsLaguna Branch at a billed price of P110,000. The inventory originally cost thecompany P90,000. The home office reported sales and cost of goods sold ofP1,400,000 and

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 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...

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