Kora Company reported the following information for 2019: 50,000 Purchase returns 260,000 Purchase discounts 20,000 Sales...

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Kora Company reported the following information for 2019: 50,000 Purchase returns 260,000 Purchase discounts 20,000 Sales Beginning Inventory Purchases Freight In 35,000 Sales returns 15,000 Sales allowances 400,000 Sales discounts 30,000 5,000 10,000 A physical inventory taken at year-end resulted in ending inventory costing P40,000. Unsold goods out on consignment with selling price of P10,000 are in the hands of a consignee. Gross profit was 40% on sales. 5. What is the cost of goods available for sale? Kora Company reported the following information for 2019: 50,000 Purchase returns 260,000 Purchase discounts 20,000 Sales Beginning Inventory Purchases Freight In 35,000 Sales returns 15,000 Sales allowances 400,000 Sales discounts 30,000 5,000 10,000 A physical inventory taken at year-end resulted in ending inventory costing P40,000. Unsold goods out on consignment with selling price of P10,000 are in the hands of a consignee. Gross profit was 40% on sales. 5. What is the cost of goods available for sale?

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