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The home office ships merchandise to its branch at 20% above cost. The branchs books show a beginning inventory of home office merchandise of 30,000

The home office ships merchandise to its branch at 20% above cost. The branchs books show a beginning inventory of home office merchandise of 30,000 and shipments form home office of 180,000. What is the balance before closing in the Allowance for Overvaluation of Branch Inventory account?

P35,000

P36,000

P42,000

P52,500

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