Find what is the amount of ending inventory at cost

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Problem 1: The home office bills its Cagayan branch at 125% of cost. During the year 2018, goods costing P150,000 were shipped to the branch. The account "allowance for overvaluation of branch inventory", after adjustment, shows a balance of P14,000 at the end of the year. What is the amount of ending inventory at cost?

Reference no: EM132737305

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