Harry Company's reoords indicate the following information: Merchandise inventory, January 1, 200X7 Purchases, January 1 through December 31, 20X7 Sales, January 1 through December 31, 20X7 P 550,000 2,250,000 3,000,000 On December 31, 20X7, a physical inventory determined that ending inventory of P600,000 was in the warehouse. Harry's gross profit on sales has remained constant at 30%. Harry suspects some of the inventory may have been taken by some new employees. At December 31, 20X7, what is the estimated cost of missing inventory? O P100,000 O P200,000 P300,000 O P700,000

Harry Company's reoords indicate the following information: Merchandise inventory, January 1, 200X7 Purchases, January 1 through December 31, 20X7 Sales, January 1 through December 31, 20X7 P 550,000 2,250,000 3,000,000 On December 31, 20X7, a physical inventory determined that ending inventory of P600,000 was in the warehouse. Harry's gross profit on sales has remained constant at 30%. Harry suspects some of the inventory may have been taken by some new employees. At December 31, 20X7, what is the estimated cost of missing inventory? O P100,000 O P200,000 P300,000 O P700,000

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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