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he following data were available for ABC Corp at Dec 31, 20X2: Net purchases    P345,000 Inventory, Dec 31  P50,000 There was an decrease of the inventory by 6,000 at year end How much was the inventory at Jan 1, 20X2?     6,000 44,000 50,000 56,000

he following data were available for ABC Corp at Dec 31, 20X2: Net purchases    P345,000 Inventory, Dec 31  P50,000 There was an decrease of the inventory by 6,000 at year end How much was the inventory at Jan 1, 20X2?     6,000 44,000 50,000 56,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...
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6.The following data were available for ABC Corp at Dec 31, 20X2:
Net purchases    P345,000
Inventory, Dec 31  P50,000
There was an decrease of the inventory by 6,000 at year end

How much was the inventory at Jan 1, 20X2?
 
 
6,000
44,000
50,000
56,000
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