. In the inventory audit of the BaCow Farm Implements, Inc. we gathered the following: Extension,...
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. In the inventory audit of the BaCow Farm Implements, Inc. we gathered the following: Extension, footing errors (undervaluation) Inventory items duplicated P 250,000 P 200,000 P Goods being held on consignment by client Purchased goods still in transit, FOB shipping point Physical inventory of all merchandise in the premises of BaCow Farm Implements, Inc. P 1,500,000 How much should the inventory be stated on December 31, 2020? 750,000 P 500,000 . In the inventory audit of the BaCow Farm Implements, Inc. we gathered the following: Extension, footing errors (undervaluation) Inventory items duplicated P 250,000 P 200,000 P Goods being held on consignment by client Purchased goods still in transit, FOB shipping point Physical inventory of all merchandise in the premises of BaCow Farm Implements, Inc. P 1,500,000 How much should the inventory be stated on December 31, 2020? 750,000 P 500,000
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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