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Bar Company provided the following information with respoect to cost of goods sold for the current year: Histotical Cost Units Inventory, Jan1 1,060,000.00 20,000.00 Purchases
| Bar Company provided the following information with respoect to cost of goods sold for the current year: | ||||||
| Histotical Cost | Units | |||||
| Inventory, Jan1 | 1,060,000.00 | 20,000.00 | ||||
| Purchases | 5,580,000.00 | 90,000.00 | ||||
| Goods available for sale | 6,640,000.00 | 110,000.00 | ||||
| Inventory, Dec31 | -2,520,000.00 | -40,000.00 | ||||
| Cost of goods sold | 4,120,000.00 | 70,000.00 | ||||
| The current cost per unit of inventory was Php58 on January 1,2020, ad Php72 on December 31. | ||||||
| What is the holding gain on inventory for the year? | ||||||
| Php 790,000.00 | ||||||
| Php 920,000.00 | ||||||
| Php 430,000.00 | ||||||
| Php 560,000.00 | ||||||
| None of the above | ||||||
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Managerial Accounting A Focus On Ethical Decision Making
Authors: Jackson
5th Edition
B00651UGQG
