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Question No. 8 Identify whether the merchandise described should be INCLUDED or EXCLUDED in the Inventory on December 31, 2020. Merchandise costing P12,750 was received

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Question No. 8 Identify whether the merchandise described should be INCLUDED or EXCLUDED in the Inventory on December 31, 2020. Merchandise costing P12,750 was received on January 3, 2021 and purchase invoice recorded on January 5, 2021. Shipment was made on December 27, 2020 FOB destination

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