Question: The home office ships merchandise to its branch at 20% above cost. The balance before closing in the Intra-company Inventory profit account is P132,000 and

The home office ships merchandise to its branch at 20% above cost. The balance before closing in the Intra-company Inventory profit account is P132,000 and Shipments from Home Office amounted to P600,000.The cost of the branch beginning inventory is

60,000

128,000

160,000

192,000

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