56. Harper Inc. incurred an inventory loss from market decline of P840,000 on June 30, 2019. What amount of the inventory loss should be recognized in the quarterly income statement for the three months ended June 30, 2019? a. 210,000 b. 280,000 c. 420,000 d. 840,000
56. Harper Inc. incurred an inventory loss from market decline of P840,000 on June 30, 2019. What amount of the inventory loss should be recognized in the quarterly income statement for the three months ended June 30, 2019? a. 210,000 b. 280,000 c. 420,000 d. 840,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![56. Harper Inc. incurred an inventory loss from market decline of P840,000 on June 30, 2019. What
amount of the inventory loss should be recognized in the quarterly income statement for the three
months ended June 30, 2019?
a. 210,000
b. 280,000
c. 420,000
d. 840,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8da63fe3-176e-4356-94a1-33a7b2d9cd79%2F343de9c1-c463-49b1-918b-09939271a13a%2Fdb9g2rf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:56. Harper Inc. incurred an inventory loss from market decline of P840,000 on June 30, 2019. What
amount of the inventory loss should be recognized in the quarterly income statement for the three
months ended June 30, 2019?
a. 210,000
b. 280,000
c. 420,000
d. 840,000
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