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A branch's ending inventory of merchandise shipped by the home office and purchased from outside vendors amounts to P100,000. The post-closing balance in the

  

A branch's ending inventory of merchandise shipped by the home office and purchased from outside vendors amounts to P100,000. The post-closing balance in the Unrealized Gross Profit in Branch Inventory account is P12,000 due to the home office practice of shipping merchandise at 120% of cost.

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