For the current year, Purchases were P310,000; Purchase Returns and Allowances were P5,500; Freight In...
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Accounting
For the current year, Purchases were P310,000; Purchase Returns and Allowances were P5,500; Freight In was P14,000; and Freight Out was P22,000. The beginning merchandise inventory was P190,000 and the ending inventory was P88,000. Distribution costs were P12,000 and Administrative Expenses amounted to P25,000. How much is the Cost of Goods Sold
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