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What the cost of sales of the branch was

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Reference no: EM132808857

Marian Commercial Corp. maintains a branch in Iloilo City. Selected balances taken from the books of Marian Commercial and its Iloilo branch as of December 31, 2029 are as follows:

                                                                         Home office                Branch

Merchandise Inventory, Jan. 1                    12,000                     8,000
Purchases                                                150,000                 30,000
Shipments from Home Office                           93,750
Shipments to Branch                                                              75,000
Branch Inventory Allowance                                                       19,750
Sales                                                        115,000              176,500
Merchandise Inventory, Dec. 31                   14,000                     10,350

Problem 1: P4,350 of the branch's ending inventory came from purchases from outside vendors. As far as the Home Office is concerned, the cost of sales of the branch was:

Reference no: EM132808857

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