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The following items were taken from the records of D.J, Palaming Car Company: Salary payable Sales revenue P 1,100 480,000 20,000 Freight in Beginning inventory Sales discounts 35,000 18,000 240,000 Purchases of inventory Purchase returns and allowances Purchase discounts 35,000 10,000 35,000 80,000 85,000 Sales returns and allowances Ending inventory Operating expenses Cost of goods available for sale for D.J. Palaming Car Company is:

The following items were taken from the records of D.J, Palaming Car Company: Salary payable Sales revenue P 1,100 480,000 20,000 Freight in Beginning inventory Sales discounts 35,000 18,000 240,000 Purchases of inventory Purchase returns and allowances Purchase discounts 35,000 10,000 35,000 80,000 85,000 Sales returns and allowances Ending inventory Operating expenses Cost of goods available for sale for D.J. Palaming Car Company is:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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FUNDAMENTALS OF ACCOUNTING a. P155,000 b. P225,000 C. P270,000 d. P250,000 13. Cost of goods sold for D.J. Palaming Car Company is: a. P170,000 b. P180,000 C. P330,000 d. P220,000 ed in the en
Transcribed Image Text:FUNDAMENTALS OF ACCOUNTING a. P155,000 b. P225,000 C. P270,000 d. P250,000 13. Cost of goods sold for D.J. Palaming Car Company is: a. P170,000 b. P180,000 C. P330,000 d. P220,000 ed in the en
discounts The following items were taken from the records of D.J. Palaming Car Company: Salary payable Sales revenue P 1,100 480,000 Freight in Beginning inventory Sales discounts 20,000 35,000 18,000 240,000 35,000 10,000 35,000 80,000 85,000 Purchases of inventory Purchase returns and allowances Purchase discounts Sales returns and allowances Ending inventory Operating expenses Cost of goods available for sale for D.J. Palaming Car Company is: 409
Transcribed Image Text:discounts The following items were taken from the records of D.J. Palaming Car Company: Salary payable Sales revenue P 1,100 480,000 Freight in Beginning inventory Sales discounts 20,000 35,000 18,000 240,000 35,000 10,000 35,000 80,000 85,000 Purchases of inventory Purchase returns and allowances Purchase discounts Sales returns and allowances Ending inventory Operating expenses Cost of goods available for sale for D.J. Palaming Car Company is: 409
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