PLEASE ANSWER ASAP. DO NOT USE EXCEL The HO ships merchandise to the branch at 50% above cost. On its books the balance shows a beginning inventory of HO merchandise amounting to P15,000 and shipments from HO of P110,000. Its ending inventory of HO merchandise is P5,000. Question 10. What amount should the HO adjust the allowance for overvaluation of branch inventory account?

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