For the next two (2) questions: DEF Co. has provided the following data: Inventory December 31, 2021 P1,500,000 950,000 December 31, 2022 P1,400,000 980,000 Accounts payable For 2022, cost of goods purchased was P8,300,000 while cash purchases of inventory amounted to P1,300,000. 3. How much is the cost of goods sold in 2022? 4. What is the total amount of cash paid to suppliers in 2022?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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For the next two (2) questions:
DEF Co. has provided the following data:
Inventory
December 31, 2021
P1,500,000
950,000
December 31, 2022
P1,400,000
980,000
Accounts payable
For 2022, cost of goods purchased was P8,300,000 while cash purchases of inventory amounted to P1,300,000.
3.
How much is the cost of goods sold in 2022?
4. What is the total amount of cash paid to suppliers in 2022?
Transcribed Image Text:For the next two (2) questions: DEF Co. has provided the following data: Inventory December 31, 2021 P1,500,000 950,000 December 31, 2022 P1,400,000 980,000 Accounts payable For 2022, cost of goods purchased was P8,300,000 while cash purchases of inventory amounted to P1,300,000. 3. How much is the cost of goods sold in 2022? 4. What is the total amount of cash paid to suppliers in 2022?
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