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a. P100,000 b. P200,000 c. P300,000 d. P700,000 Harry Company's records indicate the following information: Merchandise inventory, January 1, 20X7 P 550,000 Purchases, January 1
a. P100,000
b. P200,000
c. P300,000
d. P700,000
Harry Company's records indicate the following information: Merchandise inventory, January 1, 20X7 P 550,000 Purchases, January 1 through December 31, 20X7 2,250,000 Sales, January 1 through December 31, 20X7 3,000,000 On December 31, 20X7, a physical inventory determined that ending inventory of P600,000 was in the warehouse. Harry's gross profit on sales has remained constant at 30%. Harry suspects some of the inventory may have been taken by some new employees. At December 31, 20X7, what is the estimated cost of missing inventoryStep by Step Solution
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