Nam kespe single-entry to cards for his business. The accounts payable per files on May 1 was P110,000, and on May 20 was P140,000. During the month, B45,000 was paid for cash purchases, P22,500 was allowed on purchase returns; P280,000 WE paid on accounts payable; and P10,000 was paid for freight- in The inventory on May 1 was P50,000 and on May 31 was P60,000. 

What is the cost of sales for the month of May?

Answer rating: 100% (QA)

Cost of Sales Opening Inventory Purchases Purchase Retu... View the full answer