74. Mall Company reported the following balances at the end of each year: 2019 2018 2,600,000 2,900,000 Inventory Accounts payable The entity paid suppliers P4,900,000 during the year ended December 31, 2019. 750,000 500,000 What amount should be reported for the cost of goods sold in 2019? a. 5,450,000 b. 4,950,000 c. 4,850,000 d. 4,350,000
74. Mall Company reported the following balances at the end of each year: 2019 2018 2,600,000 2,900,000 Inventory Accounts payable The entity paid suppliers P4,900,000 during the year ended December 31, 2019. 750,000 500,000 What amount should be reported for the cost of goods sold in 2019? a. 5,450,000 b. 4,950,000 c. 4,850,000 d. 4,350,000
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
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 8MC
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