Qtso Company reported during the current year the following: P 500,000 2,500,000 3,200,000 A physical count at year-end resulted in an inventory of P 575,000. The gross profit on sales had remained constant at 25%. The entity suspected that some inventory may have been taken by a new employee. What is the estimated cost of missing inventory Beginning inventory Net purchases Net Sales at year-end? А. Р 100,000 В. Р 175,000 С. Р 225,000 D. P 25,000

Qtso Company reported during the current year the following: P 500,000 2,500,000 3,200,000 A physical count at year-end resulted in an inventory of P 575,000. The gross profit on sales had remained constant at 25%. The entity suspected that some inventory may have been taken by a new employee. What is the estimated cost of missing inventory Beginning inventory Net purchases Net Sales at year-end? А. Р 100,000 В. Р 175,000 С. Р 225,000 D. P 25,000

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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