Answered: Net purchases is P170,000; Increase in…

Net purchases is P170,000; Increase in inventory during the year is P40,000. How much is the cost of goods sold? choices: P170,000 P130,000 210,000 P210,000

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Net purchases is P170,000; Increase in inventory during the year is P40,000. How much is the cost of goods sold?

choices:

P170,000

P130,000

210,000

P210,000

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