Question
The home office ships merchandise to its branch at 20% above cost. The balance before closing in the Intra-company Inventory profit account is P132,000 and
The home office ships merchandise to its branch at 20% above cost. The balance before closing in the Intra-company Inventory profit account is P132,000 and Shipments from Home Office amounted to P600,000.The cost of the branch beginning inventory is
60,000
128,000
160,000
192,000
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Financial Statement Analysis
Authors: K. R. Subramanyam, John Wild
11th edition
78110963, 978-0078110962
