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Compute the cost of goods sold

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Question - The following selected accounts were taken from the books of Santos Trading on December 31, 2016: Santos, Capital-P150,000; Loss from Operations-P1,500; Net Sales-P120,000; total Goods Available for Sale-P103,505; Gross Profit-P60,750; Merchandise inventory , Jan 1, 2016-P27,520.

Compute the Cost of goods sold?

a. P 42,755

b. P62,250

c. P75,985

d. P 59,750

Reference no: EM132635219

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