Question
Selected amounts from the accounting records of Handy home Products are listed in alphabetical order: Accounts Receivable - P483,000; Accumulated Depreciation - P187,000; Freight-in -
Selected amounts from the accounting records of Handy home Products are listed in alphabetical order: Accounts Receivable - P483,000; Accumulated Depreciation - P187,000; Freight-in - P220,000; General Expenses - P238,000; Interest Revenue - P15,000; Inventory, beginning - 194,500; Inventory, end - P218,700; Capital, beginning - P1,260,700; Purchases - P913,000; Purchase Discounts - P30,000; Purchase Returns - P20,000; Sales Discounts - P90,000; Sales Returns - P46,000; Sales Revenue - P2,010,000; Selling Expenses - P378,400; Unearned Sales Revenue - P65,000.
Compute for the Cost of Goods Sold for the period.
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