Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of ₱75,000 and ₱1,500,000 respectively. The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). Inventory was reduced by ₱
Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of ₱75,000 and ₱1,500,000 respectively. The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). Inventory was reduced by ₱
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of ₱75,000 and ₱1,500,000 respectively. The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). Inventory was reduced by ₱____________.
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