Problem 14-6 (IAA) Airborne Company used the average cost retail inventory method. Cost Retail Beginning inventory Net purchases Departmental transfer - credit Net markup - Inventory shortage - sales price Employee discounts Sales, including sales of P400,000 of items which were marked down from P500,000 1,650,000 3,725,000 200,000 2,200,000 4,950,000 300,000 150,000 100,000 200,000 4,000,000 What is the estimated cost of ending inventory? a. 1,950,000 b. 2,600,000 c. 1,924,000 d. 2,250,000

Problem 14-6 (IAA) Airborne Company used the average cost retail inventory method. Cost Retail Beginning inventory Net purchases Departmental transfer - credit Net markup - Inventory shortage - sales price Employee discounts Sales, including sales of P400,000 of items which were marked down from P500,000 1,650,000 3,725,000 200,000 2,200,000 4,950,000 300,000 150,000 100,000 200,000 4,000,000 What is the estimated cost of ending inventory? a. 1,950,000 b. 2,600,000 c. 1,924,000 d. 2,250,000

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Description: Problem 14-6 (IAA)Airborne Company used the average cost retail inventorymethod.CostRetailBeginning inventoryNet purchasesDepartmental transfer - creditNet markupInventory shortage - sales priceEmployee discountsSales, including sales of P400,000 of

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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