Question
Finland Company consigned goods costing P100,000 to France Inc. Markup on consigned goods is 35% on cost. Transportation costs of delivering the goods to France
Finland Company consigned goods costing P100,000 to France Inc. Markup on consigned goods is 35% on cost. Transportation costs of delivering the goods to France Inc totaled P20,000. To induce France Inc in accepting the consigned goods, Finland Company gave France Inc P10,000 representing an advance commission. How much is the cost of the consigned goods?
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Payroll Accounting
Authors: Bernard J. Bieg, Judith A. Toland
2013 edition
113396253X, 978-1133962533
