How much is the cost of inventory pilferage if the physical count revealed an ending inventory at retail of P780,000? Syvels Trading uses the retail inventory method to estimate inventory. The following information was obtained from the accounting records for the year ended December 31 2010: Inventory, January 1 Purchases P617,000 P1,057,000 1,281,000 2,158,000 Purchases Returns 21,000 35,000 Sales 2,365,000 Sales Returns 62,000 Freight in 31,000

How much is the cost of inventory pilferage if the physical count revealed an ending inventory at retail of P780,000? Syvels Trading uses the retail inventory method to estimate inventory. The following information was obtained from the accounting records for the year ended December 31 2010: Inventory, January 1 Purchases P617,000 P1,057,000 1,281,000 2,158,000 Purchases Returns 21,000 35,000 Sales 2,365,000 Sales Returns 62,000 Freight in 31,000

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Description: How much is the cost of inventory pilferage if the physical count revealed anending inventory at retail of P780,000?Syvels Trading uses the retail inventory method to estimate inventory. The followinginformation was obtained from the accounting reco

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 2PEA: Beginning inventory, purchases, and sales for Item ProX2 are as follows: Assuming a perpetual...

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