At year-end, IMMUTABLE Co reported inventory at P3,900,000. Allowance for inventory write-down before any adjustment is at P195,000. Product details are as follows: Historical Replacement Sales Net Realizable Normal Cost Cost Price Value Profit A 1,040,000 1,170,000 1,560,000| 715,000 325,000 1,300,000 1,560,000 1,690000 1,430,000 195,00 C 910,000 1,300,000 1,625,000| 1,235,000 390,000 650,000 780,000 1,300,000 455,000| 390,000 What amount of inventory write-down should be included in cost of goods sold?
At year-end, IMMUTABLE Co reported inventory at P3,900,000. Allowance for inventory write-down before any adjustment is at P195,000. Product details are as follows: Historical Replacement Sales Net Realizable Normal Cost Cost Price Value Profit A 1,040,000 1,170,000 1,560,000| 715,000 325,000 1,300,000 1,560,000 1,690000 1,430,000 195,00 C 910,000 1,300,000 1,625,000| 1,235,000 390,000 650,000 780,000 1,300,000 455,000| 390,000 What amount of inventory write-down should be included in cost of goods sold?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At year-end, IMMUTABLE Co reported inventory at P3,900,000. Allowance
for inventory write-down before any adjustment is at P195,000. Product
details are as follows:
Historical Replacement
Sales
Net Realizable
Normal
Cost
Cost
Price
Value
Profit
A
1,040,000
1,170,000 1,560,000|
715,000
325,000
1,300,000
1,560,000 1,690000|
1,430,000
195,00
C
910,000
1,300,000 1,625,000|
1,235,000
390,000
650,000
780,000 1,300,000
455,000
390,000
What amount of inventory write-down should be included in cost of goods
sold?
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