The ollowing information was taken trom the oAtemoon CoAccounts payabeRaw materialsWork in processFinished goods29.0005,00020,00045.00060002700023,000Aditinal information. Aftemoon Co paid P20000 for accounts payabledeductions of P2500 for purchase retums and Ppurchase discountsAfternoon Co. paid total freight of PI,000 on the purchas• The costs of direct labor and tactory overhead during tperiod were P16.000 and P6000, respectively.• Sales from Jan 1 to June 30 were P75000, sales retum ePIS,000, and sales discounts were P5,000.• The gross profit rate hased on cost is 33 1/3%.How much is the finished goods ending inventory!b. 32,000A 29,000c.33,600

All products that have completed the manufacturing and production procedures are stored in the…

he llowing information was taken Atemoon Co Jan L 20 29000 5000 2000 21000 Ine 2 4.000 Acunts payabe Raw erial Work in proce Fihed goods 2700 Aal infermati Atemoon Co paid P00 for accounts pevble deductions of P2500 for purchase retums and P purchase discounts • Atemoon Co. paid total freight of P1,000 on the purcha • The ants of direct labor and factory overhead durig t period were PI600 and P000, respectively • Sales from Jan 1 to hune 30 were P75000, sales netum PIS00, and sales discounts were P5,00. The gross profit rate haed on cost is 33 1/3% How much is the finished goods ending inventory 3600 d.6

he llowing information was taken Atemoon Co Jan L 20 29000 5000 2000 21000 Ine 2 4.000 Acunts payabe Raw erial Work in proce Fihed goods 2700 Aal infermati Atemoon Co paid P00 for accounts pevble deductions of P2500 for purchase retums and P purchase discounts • Atemoon Co. paid total freight of P1,000 on the purcha • The ants of direct labor and factory overhead durig t period were PI600 and P000, respectively • Sales from Jan 1 to hune 30 were P75000, sales netum PIS00, and sales discounts were P5,00. The gross profit rate haed on cost is 33 1/3% How much is the finished goods ending inventory 3600 d.6

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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