Kaasiam Company uses cost method in determining its ending inventory. Assume the beginning inventory at cost were P66,500 (selling price P99,000); purchases during period at cost of P568,504 (SP at P865,600) ang freight on the purchases totaled P26,500. Sales during the period totaled P811,000 and net markups were P69,000. What is the ending inventory value at cost?

Kaasiam Company uses cost method in determining its ending inventory. Assume the beginning inventory at cost were P66,500 (selling price P99,000); purchases during period at cost of P568,504 (SP at P865,600) ang freight on the purchases totaled P26,500. Sales during the period totaled P811,000 and net markups were P69,000. What is the ending inventory value at cost?

Name: Item 8 of 25Kaasiam Company uses cost method in determining its endin
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Description: Item 8 of 25Kaasiam Company uses cost method in determining its ending inventory. Assume the beginning inventory at cost were P66,500 (selling price P99,000);purchases during period at cost of P568,504 (SP at P865,600) ang freight on the purchases t

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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