Everest acquired assets and liabilities of Cola for Cola 's book value at the balance sheet date, At that date, Everest's inventory had a book value and market value of P65,000 and P80,000, respectively while Cola's inventory had a book and market value of P25,000 and P25,000, respectively. What amount of inventory would appear on the balance sheet? (do not use comma on the answer, Follow this format: P1 250 000)

Everest acquired assets and liabilities of Cola for Cola 's book value at the balance sheet date, At that date, Everest's inventory had a book value and market value of P65,000 and P80,000, respectively while Cola's inventory had a book and market value of P25,000 and P25,000, respectively. What amount of inventory would appear on the balance sheet? (do not use comma on the answer, Follow this format: P1 250 000)

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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