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Compute for tax due with solution each on cost of sale

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Problem 1: Compute for Tax Due With Solution Each on cost of sale and operating expenses

Mr. JMLH signified his intention to be taxed at 8% income tax rate on gross sales in his 1" Quarterly Income Tax Return. He has no other source of income. His total sales for the first three (3) quarters amounted to P3,000,000 with 4th quarter sales of P3,500,000.

Reference no: EM132936094

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