The following costs were incurred by I Square Company related to inventory: After sales warranty costs 750,000 Brokerage commission to agents 600,000 Delivery costs to customers 120,000 Freight 2,000,000 Handling costs relating to imports 300,000 Import duties 1,200,000 Insurance on inventories in transit 1,000,000 Invoice costs of merchandise inventory purchased 15,000,000 Salary of accountants 1,800,000 Sales commission of sales agents 900,000 Storage costs of finished goods 540,000 VAT on importation 500,000 How much is the correct amount of inventory? A. P17,100,000 B. P18,300,000 C. P19,500,000 D. P20,100,000
The following costs were incurred by I Square Company related to inventory:
After sales warranty costs 750,000
Brokerage commission to agents 600,000
Delivery costs to customers 120,000
Freight 2,000,000
Handling costs relating to imports 300,000
Import duties 1,200,000
Insurance on inventories in transit 1,000,000
Invoice costs of merchandise inventory purchased 15,000,000
Salary of accountants 1,800,000
Sales commission of sales agents 900,000
Storage costs of finished goods 540,000
VAT on importation 500,000
How much is the correct amount of inventory?
A. P17,100,000
B. P18,300,000
C. P19,500,000
D. P20,100,000
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