How much is the cost of sales at Dec 31, 20X2?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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50.The following data were available for ABC Corp at Dec 31, 20X2:
Net purchases P345,000
Freight in P10,000
Freight out P14,000
Beg inventory P50,000
There was an increase of the inventory by 2,000 at year end
How much is the cost of sales at Dec 31, 20X2?
Net purchases P345,000
Freight in P10,000
Freight out P14,000
Beg inventory P50,000
There was an increase of the inventory by 2,000 at year end
How much is the cost of sales at Dec 31, 20X2?
343,000
353,000
367,000
403,000
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