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Question - Entity A publishes quarterly interim financial reports. Entity A's annual depreciation for items of PPE is 120,000. At the end of the first quarter, Entity A's inventories have a cost of 600,000 and a net realizable value of 510,000. Entity A expects that the total employee bonuses (13th month pay) that will be paid at year-end will amount to 60,000. How much is the total amount of expense to be recognized from the items described above in Entity A's first quarter statement of profit or loss?
Financial Statement Analysis and Preparation
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