The ABC Boutique had the following information at June 30, 20X1: Purchases, P180,000 Inventory, June 1, P8,000 Purchase returns, P2,000 Freight in, P4,000 Sales, P250,000 Sales discount, P20,000 If the gross profit is 25% of cost of sales. How much is the inventory at June 30? a. 6,000 b. 10,000 c. 17,500 d. 18,000
The ABC Boutique had the following information at June 30, 20X1: Purchases, P180,000 Inventory, June 1, P8,000 Purchase returns, P2,000 Freight in, P4,000 Sales, P250,000 Sales discount, P20,000 If the gross profit is 25% of cost of sales. How much is the inventory at June 30? a. 6,000 b. 10,000 c. 17,500 d. 18,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The ABC Boutique had the following information at June 30, 20X1:
Purchases, P180,000
Inventory, June 1, P8,000
Purchase returns, P2,000
Freight in, P4,000
Sales, P250,000
Sales discount, P20,000
If the gross profit is 25% of cost of sales. How much is the inventory at June 30?
Purchases, P180,000
Inventory, June 1, P8,000
Purchase returns, P2,000
Freight in, P4,000
Sales, P250,000
Sales discount, P20,000
If the gross profit is 25% of cost of sales. How much is the inventory at June 30?
a. 6,000
b. 10,000
c. 17,500
d. 18,000
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