P 1,000,000 under credit terms 2/15, net 30. The payment due on the P 800,000 purchase was remitted on June 16. The payment due on the P 1,000,000 purchase was remitted on June 31. Under the net method and the gross method, these purchases should be included at what respective amounts in the determination of cost of goods available for sale? Net Method P 1,784,000 1,764,000 Gross Method P 1,764,000 А. В. 1,800,000 с. 1,784,000 1,764,000 1.800.000 D. 1.764.000

P 1,000,000 under credit terms 2/15, net 30. The payment due on the P 800,000 purchase was remitted on June 16. The payment due on the P 1,000,000 purchase was remitted on June 31. Under the net method and the gross method, these purchases should be included at what respective amounts in the determination of cost of goods available for sale? Net Method P 1,784,000 1,764,000 Gross Method P 1,764,000 А. В. 1,800,000 с. 1,784,000 1,764,000 1.800.000 D. 1.764.000

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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