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How much higher is the true branch net income

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Question - Margarita Corp. consistently bills its branch 125% of the cost of its shipped goods. Half of the beginning inventory of the branch is outsourced from third-party suppliers. During 2021, total shipments from home office amounted to P1,233,750, and total purchases from third-party suppliers amounted to P1,458,750. On December 31, 2021, the loading in branch inventory account amounted to P277,500. Cost of goods sold reported by the branch amounted to P2,600,000 and P12,500 of its ending inventory came from outside suppliers. How much higher is the true branch net income as compared to its reported net income?

A. 0

B. 197,500

C. 200,000

D. 520,000

Reference no: EM133105106

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