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50 . The home office of Glendale Company , which uses perpetual inventory system , bills shipments of merchandise to he Montrose Branch at a
50 . The home office of Glendale Company , which uses perpetual inventory system , bills shipments of merchandise to he Montrose Branch at a mark- up of 25% on the billed price . On August 31 2014 , the credit balance of the home office's Allowance for Overvaluation of Inventories - Montrose Branch ledger account was P60 000 . On September 17 . 2014 the home office shipped merchandise to the branch at a billed price of P40 000 . The branch reported an ending inventory , at billed price , of P 160 000 on September 30 2014 . Compute the realized gross profit 2 . 20,090 108000 28.000 20.000
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