The ABC Boutique had the following information at June 30, 20X1: Purchases, P180,000 Inventory, June 1, P8,000 Purchase returns, P2,000 Freight in, P4,000 Sales, P250,000 Sales discount, P20,000 If the gross profit is 25% of cost of sales. How much is the inventory at June 30? 6,000 10,000 17,500 18,000
The ABC Boutique had the following information at June 30, 20X1: Purchases, P180,000 Inventory, June 1, P8,000 Purchase returns, P2,000 Freight in, P4,000 Sales, P250,000 Sales discount, P20,000 If the gross profit is 25% of cost of sales. How much is the inventory at June 30? 6,000 10,000 17,500 18,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 4MC
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14.The ABC Boutique had the following information at June 30, 20X1:
Purchases, P180,000
Inventory, June 1, P8,000
Purchase returns, P2,000
Freight in, P4,000
Sales, P250,000
Sales discount, P20,000
If the gross profit is 25% of cost of sales. How much is the inventory at June 30?
Purchases, P180,000
Inventory, June 1, P8,000
Purchase returns, P2,000
Freight in, P4,000
Sales, P250,000
Sales discount, P20,000
If the gross profit is 25% of cost of sales. How much is the inventory at June 30?
6,000
10,000
17,500
18,000
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