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Find the total amount to be classified

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Question - NIU BALANCE incurred the following costs during the year ended December 31, 2020:

Laboratory research aimed at discovery of new knowledge P180,000

Costs of testing prototype and design modifications 45,000

Quality control during commercial production, including routine testing of products 270,000

Construction of research facilities having an estimated useful life of

6 years but no alternative future use 360,000

Required - Find the total amount to be classified and expensed as research and development.

Reference no: EM132642791

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