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What the realized profit on inventory shipment

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Reference no: EM133011278

Question - The home office of Nine West Company bills its branch for shipments of goods at 25% Gross profit rate. During 2019, goods costing P300,000 were shipped by the home office to the branch. At the end of the year, after appropriate adjustments are recognized, the allowance for overvaluation of branch inventory account credit balance was P14,000. What the realized profit on inventory shipment?

a. P100,000

b. P75,000

c. 86,000

d. P61.000

Reference no: EM133011278

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