Record the following transactions using: a) Perpetual and b) Periodic Method a. During the year, 300 chairs were bought at P150 each or a total purchases of P45,000. b. At the end of the year, a physical count showed only 140 chairs are still on hand. c. Merchandise is sold at 50% above cost. After recording the transactions, determine the following: a. Cost of Goods Sold b. Gross Profit c. Cost of unsold chairs

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