Siete Company provided the following data for the current year: Inventory, January 1: At cost P 3,000,000 At net realizable value 2,800,000 Net Purchases 8,000,000 Inventory, December 31: At cost At net realizable value 4,000,000 3,700,000 What amount should be reported as Cost of Goods Sold? В. Р1,100,000 C. P7,300,000 A. P7,000,000 D. P 7,200,000

Siete Company provided the following data for the current year: Inventory, January 1: At cost P 3,000,000 At net realizable value 2,800,000 Net Purchases 8,000,000 Inventory, December 31: At cost At net realizable value 4,000,000 3,700,000 What amount should be reported as Cost of Goods Sold? В. Р1,100,000 C. P7,300,000 A. P7,000,000 D. P 7,200,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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