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The following data were taken from the records of Home office and its branch for 2019: Description Home office Branch Sales P530,000 P157,500 Beginning inventory
The following data were taken from the records of Home office and its branch for 2019:
Description | Home office | Branch |
Sales | P530,000 | P157,500 |
Beginning inventory | 57,500 | 22,250 |
Purchases | 410,000 | - |
Shipments to branch | 105,000 | - |
Shipments from home office | - | 126,000 |
Ending inventory | 71,250 | 29,250 |
Expenses | 191,000 | 50,750 |
In 2019, the home office billed the branch at 120% cost which was lower by 5% than last year's. What is the combined net income?
Group of answer choices
48,000
48,325
56,075
49,650
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