Ara Company used the average cost retail inventory method. The entity provided the followinginformation for the current year:CostRetailBeginning inventoryNet purchasesDepartmental transfer – creditNet mark-up1,650,0002,200,0003,725,000200,0004,950,000300,000150,000100,000200,000Inventory shortage – sales priceEmployee discountsSales, including sales of P400,000 of items whichwere marked down from P500,00021. What is the estimated cost of ending inventory?4,000,000

Name: Ara Company used the average cost retail inventory method. The entity
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Description: Ara Company used the average cost retail inventory method. The entity provided the followinginformation for the current year:CostRetailBeginning inventoryNet purchasesDepartmental transfer – creditNet mark-up1,650,0002,200,0003,725,000200,0004,950,0

Particulars Cost ($) Retail ($) Beginning Inventory 1650000 2200000 Net Purchases 3725000…

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Ara Company used the average cost retail inventory method. The entity provided the following information for the current year: Cost Retail Beginning inventory Net purchases Departmental transfer – credit Net mark-up 1,650,000 3,725,000 2,200,000 4,950,000 300,000 200,000 150,000 Inventory shortage – sales price Employee discounts Sales, including sales of P400,000 of items which were marked down from P500,000 21. What is the estimated cost of ending inventory? 100,000 200,000 4,000,000

Ara Company used the average cost retail inventory method. The entity provided the following information for the current year: Cost Retail Beginning inventory Net purchases Departmental transfer – credit Net mark-up 1,650,000 3,725,000 2,200,000 4,950,000 300,000 200,000 150,000 Inventory shortage – sales price Employee discounts Sales, including sales of P400,000 of items which were marked down from P500,000 21. What is the estimated cost of ending inventory? 100,000 200,000 4,000,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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