y taken on December 31, 2021. After further processing costs of P240,000, Racine estimated that the desiccated coconut inventory could be sold as finished desiccated coconut candies for P800,000. Normal profit margin for Racine is 10% of sales. What amount should Racine report as desiccated coconut inventory in its December 31, 2021 balance sheet unde

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A:

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