Shanell uses the perpetual inventory system. Shanell purchased merchandise with a list price of Php 200,00 and trade discount pf 20% from GoldDigger and list price of Php 160,000 from tripple zero with a trade discount of 15%. Terms of both purchases were 2/10, n/30, FOB Shipping point. The transportation cost was Php 30,000. If Shanel returned merchandise with an invoice price of 40,000 from GoldDigger, what would be the ending inventory if 60% of the goods were sold?

solution please

Shanel uses the perpetual inventory system. Shanel purchased merchandise with a list price of P200,000 and a trade discount of 20% from Gold Digger and list price of P160,000 from Tripple Zero with a trade discount of 15%. Terms of both purchases were 2/10, n/30, FOB Shipping point. The transportation cost was P30,000. If Shanel returned merchandise with an invoice price of P40,000 to Gold Digger. What would be the ending inventory if 60% of the goods were sold? a. P177,600 b. P157,600 C. P147,600 d. P167,600 e. Not given The correct answer is: P147,600