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What the net purchase amounts under net method is

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Problem 1: A is using periodic inventory system. For the year, its total purchases amounted to P250,000. Its unsold merchandise at the end of the year has a cost of P5,000 which is 80% of its beginning inventory. A's cost of sales is:

Problem 2: B's purchases per purchase invoice is P150,000. The purchase discount is 2/10; n/30. Freight is P500, FOB shipping point, freight collect. The net purchase amounts under net method is

Reference no: EM132728389

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