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Compute the invoice value in peso

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Reference no: EM132901093

Advance VAT on the Sale of Flour

On July 1, 2015, a flour miller purchased wheat from BCD Company, a wheat trader, amounting to P800,000. The estimated freight was at P18,000.

Required:

Problem a: Compute the following-

1. Invoice value in peso

2. 5% Mark-up

3. Tax base

4. Advance VAT

Reference no: EM132901093

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