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By what amount will allowance for unrealized gross margin

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Question: A home office ships inventory to its branch at a mark-up of 125% above cost. The required balance of the allowance for overvaluation account is P1,425,000. During the year, the home office sent merchandise to the branch costing P9,000,000.At the start of the year, the branch's Statement of Financial Position shows P1,800,000 of inventory on hand that was acquired from the home office. By what amount will the Allowance for Unrealized Gross Margin in Branch Inventory account be debited at the end of the year?

Reference no: EM132749477

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