The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of which P31,200 in credit. Bulldogs inventory turnover ratio for the year was E ▼

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
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The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of
which P31,200 in credit. Bulldogs inventory turnover ratio for the year was
Mr. Dog, the controller, had gathered the following accounting data regarding Bulldogs Inc.
Beginning of the year
End of the year
Accounts receivable
P1,070
P1,530
Inventory
3,200
3,800
Accounts payable
1,660
1,840
Transcribed Image Text:The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of which P31,200 in credit. Bulldogs inventory turnover ratio for the year was Mr. Dog, the controller, had gathered the following accounting data regarding Bulldogs Inc. Beginning of the year End of the year Accounts receivable P1,070 P1,530 Inventory 3,200 3,800 Accounts payable 1,660 1,840
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