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What is the appropriate cost of goods sold figure

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Problem 1: Lamp starts a branch operation on January 1, 2013. Inventory costing P72,000 is shipped to this branch sells 70 percent of this inventory for P110,000 and remits P70,000 in cash to the home office. On Lamp's financial statements for this period, what is the appropriate cost of goods sold figure!

A. P50,400

B. P54,600

C. P70,000

D. P74.200

Reference no: EM132744642

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