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Records from FDNACCT Co. revealed the following data: Inventory, January 1 = P440,000 Physical count, December 31 = P50,000 The company uses the periodic

Records from FDNACCT Co. revealed the following data: Inventory, January 1 = P440,000 Physical count, December 31 = P50,000 The company uses the periodic inventory system and follows the calendar year. How much should be credited to Income Summary to reflect the ending inventory?

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