The Best Co. bills merchandise shipments in its Cavite City branch at 125% of cost. The branch in turn, sells the merchandise it receives from the home office at 25% above the billing price. On August 1, 2011, all of the branch's merchandise stock was destroyed by fire. The branch records that were recovered showed the following: Inventory, January 1 201101 Espana Branch was billed by Home Office for merchandise at 140% of cost. At the end of its month, Espana submitted among other things, the following data: Merchandise from Home Office (at hillod The Best Co. bills merchandise shipments in its Cavite City branch at 125% of cost. The branch in turn, sells the merchandise it receives from the home office at 25% above the billing price. On August 1, 2011, all of the branch's merchandise stock was destroyed by fire. The branch records that were recovered showed the following: Inventory, January 1 201101 Espana Branch was billed by Home Office for merchandise at 140% of cost. At the end of its month, Espana submitted among other things, the following data: Merchandise from Home Office (at hillod