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Question - Claire Sweater Shop uses the retail inventory method to value its inventory. Its accounting records contain the following data for 2020:
Sales P87,000
Sales discounts 1,600
Sales returns 3,100
Normal spoilage 1,300
Employee discounts (sales to employee are recorded at net) 2,400
Required - Find the adjusted sales amount for 2020 to be used in the retail inventory method?
a. P86,300
b. P79,900
c. P81,200
d. P84,700
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