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Show solution. The following data pertains to the inventory of Q: Purchases, P1,200,000 Purchase returns, P200,000; Purchase discounts, P20,000; Freight-in, P250,000; Freight-out, P300,000; Cost of

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The following data pertains to the inventory of Q: Purchases, P1,200,000 Purchase returns, P200,000; Purchase discounts, P20,000; Freight-in, P250,000; Freight-out, P300,000; Cost of sale, P930,000. Actual inventory per count, P275,000. The actual physical count indicates a shortage or an overage of: * Your answer The cost of sale is P250,000. Total purchases amounted to P300,000 which increased the total goods available for sale to P310,000. The ending inventory is: * Your

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