MULBERRY Company reported the following items were included in inventory at year-end:Merchandise out on consignment, at sales price, including 40% markup on selling price₱ 40,000Goods purchased in transit shipped POB shiiping point36,000Goods held on consignment by EIGHT Company27,000By what amount should the inventory be reduced?A. ₱ 43, 000B. ₱ 51, 000C. ₱ 67, 000D. ₱ 103, 000E. ₱ - 0 -

Inventory includes goods that a company owns and intends to sell to generate revenue. However, goods…

Answered: MULBERRY Company reported the following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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MULBERRY Company reported the following items were included in inventory at year-end:

Merchandise out on consignment, at sales price, including 40% markup on selling price	₱ 40,000
Goods purchased in transit shipped POB shiiping point	36,000
Goods held on consignment by EIGHT Company	27,000

By what amount should the inventory be reduced?

A. ₱ 43, 000

B. ₱ 51, 000

C. ₱ 67, 000

D. ₱ 103, 000

E. ₱ - 0 -

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