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Name: Given the following information, how much is the Inventory,beginning?
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Description: Given the following information, how much is the Inventory,beginning?Inventory end. P162,000Net purchases, P216,000Cost of goods sold, P144,000.

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Accounting

Given the following information, how much is the Inventory, beginning? Inventory end. P162,000 Net purchases, P216,000 Cost of goods sold, P144,000.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 12PA: Compare the calculations for gross margin for A76 Company, based on the results of the perpetual...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Given the following information, how much is the Inventory,
beginning?
Inventory end. P162,000
Net purchases, P216,000
Cost of goods sold, P144,000.

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