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In the December 31, 2022 Financial statements, ACCCOB Company found the following inventory-related transactions: - Materials costing $170,000 and billed on December 30 at a
In the December 31, 2022 Financial statements, ACCCOB Company found the following inventory-related transactions: - Materials costing $170,000 and billed on December 30 at a selling price of P264,000 had been segregated in the warehouse for the shipment to a customer. The materials had been excluded from inventory as a signed purchase order had been received from the customer. Terms, FOB destination. - Shipment received in unsalable condition and excluded from physical inventory, P60,000. - Materials purchased and received on December 30, 2022 costing 100,000 gross (trade discounts, 20% ) and freight-in of 2,000. This were excluded in the inventory. Prior to any adjustments, ACCCOB Company's ending inventory is valued at P1,245,000. What is the correct amount of inventory? P1, 577,000 91,497,000 P1.557.000 P1,517.000
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