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Find how much is the cost of good sold for the period

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The general ledger of Ace Company shows the following data:

Invoice cost of purchases, P188,000;

Purchase discounts received, P10,000;

Purchase returns and allowances, P4,000;

Merchandise inventory, beginning, P18,000;

Total cost of merchandise purchased - P182,800;

Merchandise inventory, end, P10,800.

Problem 1: How much is the cost of good sold for the period?

Reference no: EM132683473

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