The Company reported post-tax profit of P491,400 for the year ended December 31, 2020.Cost of goods sold amounted to P2,108,000 which is P270,000 greater than the net purchases during the year.Operating expenses amounted three times the peso amount of income tax expense.Beginning inventory is three times the amount of ending inventory.Income tax rate is 30%. How much were the total operating expenses during the year 2020?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Company reported post-tax profit of P491,400 for the year ended December 31, 2020.Cost of goods sold amounted to P2,108,000 which is P270,000 greater than the net purchases during the year.Operating expenses amounted three times the peso amount of income tax expense.Beginning inventory is three times the amount of ending inventory.Income tax rate is 30%. How much were the total operating expenses during the year 2020?

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