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What ending inventory is approximately

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Reference no: EM132763690

Collins Company needs an estimate of its ending inventory balance. The following information is available:

                                   Cost             Retail .

Sales revenue             P -           P180,000

Beginning inventory   35,000        62,000

Net purchases         100,000         135,000

Problem 1: Given this information, when using the gross profit estimation method, ending inventory is approximately

Option 1: P9,000

Option 2: P1,000

Option 3: P19,000

Option 4: P11,650

Reference no: EM132763690

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