Answered: P1,500 of supplies on hand at the end…

Name: A company has P1,500 of supplies on hand at the end of 2009. During 20
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Description: A company has P1,500 of supplies on hand at the end of 2009. During 2010, P,2750 of supplies were purchased. A count of supplies on hand at the end of 2010 found an inventory of P875. A count of supplies on hand at the end of 2010 found an inventory

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 33BE

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A company has P1,500 of supplies on hand at the end of 2009. During 2010, P,2750 of supplies were purchased. A count of supplies on hand at the end of 2010 found an inventory of P875. A count of supplies on hand at the end of 2010 found an inventory of P875. What was the amount of supplies expense for 2010?

Choices:
1,875
5,125
3,375
4,250

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