Question
The home office bills its branch for shipment of goods at 25% above cost. During the year, goods costing P300,000 were shipped by the home
The home office bills its branch for shipment of goods at 25% above cost. During the year, goods costing P300,000 were shipped by the home office to the branch. At the end of the year, after appropriate adjustments are recognized, the allowance for overvaluation of branch inventory account credit balance was P14,000. The branch ending inventory at cost was:
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Integrated Accounting
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
8th edition
1285462726, 1285462721, 978-1285462721
