Based on the following information provwded by Max Trading Company on December 31, 200C, the end of its accounting period: P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 s0,000 120,000 16,000 3,000 Sales Sales Returns & Allowances Sales Discount Purchases Freight in Purchase Returns & Allowances Purchase Discount Beginning laventory Ending Iaventory Operating expenses Other Income Other Expenses

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 19
Based on the following information provided by Max Trading Company on December 31, 200C, the end of its accounting
period:
P 780,000
15,000
19,000
420,000
12,000
8,000
2,000
50,000
S0,000
120,000
16,000
3,000
Sales
Sales Returns & Allowances
Sales Discount
Purchases
Freight in
Purchase Returns & Allowances
Purchase Discount
Beginning Inventory
Ending Inventory
Operating expenses
Other Income
Other Expenses
Transcribed Image Text:Question 19 Based on the following information provided by Max Trading Company on December 31, 200C, the end of its accounting period: P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 S0,000 120,000 16,000 3,000 Sales Sales Returns & Allowances Sales Discount Purchases Freight in Purchase Returns & Allowances Purchase Discount Beginning Inventory Ending Inventory Operating expenses Other Income Other Expenses
How much is the gross profit?
P 380,000
P 356,000
P 358,000
P 354,000
Transcribed Image Text:How much is the gross profit? P 380,000 P 356,000 P 358,000 P 354,000
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