Question
The following data were obtained from the records of Salacot Company: Current ratio 2.5 to 1 Acid test ratio 1.5 to 1 Inventory turnover based
The following data were obtained from the records of Salacot Company: Current ratio 2.5 to 1 Acid test ratio 1.5 to 1 Inventory turnover based on cost of goods sold and ending inventory 10.5 times Current Liabilities P360,000 What was Salacot Co.s cost of goods sold for the year?
Group of answer choices
P1,890,000
P3,780,000
P2,000,000
P3,200,000
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
4th edition
1259578542, 978-1259578540
