The following information is available for Ace Company for 2021: Disbursements for purchases $1,150,000 Increase in trade accounts payable 75,000 Decrease in merchandise inventory 30,000 Costs of goods sold for 2021 was
The following information is available for Ace Company for 2021: Disbursements for purchases $1,150,000 Increase in trade accounts payable 75,000 Decrease in merchandise inventory 30,000 Costs of goods sold for 2021 was
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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The following information is available for Ace Company for 2021:
Disbursements for purchases $1,150,000
Increase in trade accounts payable 75,000
Decrease in merchandise inventory 30,000
Costs of goods sold for 2021 was
Disbursements for purchases $1,150,000
Increase in trade accounts payable 75,000
Decrease in merchandise inventory 30,000
Costs of goods sold for 2021 was
a. P1,255,000.
b. P1,195,000.
c. P1,105,000.
d. P1,045,000.
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