The Tacay Company made purchases of P 114,000 during the year on terms of 2/10, n/30. The company took advantage of the discount on 60% of the purchases it paid for the remainder of the account after the discount period had expired. The company uses the periodic inventory system. Half of the purchases are still in the inventory at the end of the year.

QUESTION: The cost of ending inventory is:

a P 67,032

b P 55,860

c P 56,772

d P 56,316

The Tacay Company made purchases of P 114,000 during the year on terms of 2/10, n/30. The company took advantage of the discount on 60% of the purchases it paid for the remainder of the account after the discount period had expired. The company uses the periodic inventory system. Half of the purchases are still in the inventory at the end of the year. QUESTION: The cost of ending inventory is: OP67,032 OP 55,860 OP56,772 OP56,316