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Determining the Beginning Merchandise Inventory Information retrieved from the books of Gaudie Gallardo Pharmacy: Required: a) Compute the merchandise inventory as at Jan. 1, 2020.
Determining the Beginning Merchandise Inventory
Information retrieved from the books of Gaudie Gallardo Pharmacy:
Required:
a) Compute the merchandise inventory as at Jan. 1, 2020.
b) Prepare the cost of goods sold section of the income statement of Gaudie Gallardo Pharmacy.
Cost of Goods Sold
Transportation In
Merchandise Inventory, 1/31/2020
Purchases Discounts
Purchases Returns and Allowances
Purchases
P 836,000
20,000
180,000
18,000
9,000
900,000
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