How much is the cost of inventory pilferage if the physical count revealed an ending inventory at retail of P780,000? Syvels Trading uses the retail inventory method to estimate inventory. The following information was obtained from the accounting records for the year ended December 31 2010: Inventory, January 1 Purchases P617,000 P1,057,000 1,281,000 2,158,000 Purchases Returns 21,000 35,000 Sales 2,365,000 Sales Returns 62,000 Freight in 31,000

How much is the cost of inventory pilferage if the physical count revealed an ending inventory at retail of P780,000? Syvels Trading uses the retail inventory method to estimate inventory. The following information was obtained from the accounting records for the year ended December 31 2010: Inventory, January 1 Purchases P617,000 P1,057,000 1,281,000 2,158,000 Purchases Returns 21,000 35,000 Sales 2,365,000 Sales Returns 62,000 Freight in 31,000

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Description: How much is the cost of inventory pilferage if the physical count revealed anending inventory at retail of P780,000?Syvels Trading uses the retail inventory method to estimate inventory. The followinginformation was obtained from the accounting reco

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 13EA: If a group of inventory items costing $15,000 had been omitted from the year-end inventory count,...

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