If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? P800,000 P400,000 3 O 1/3 Net Sales for the year is P900,000. If cost of goods sold is P400,000, what is the gross profit ratio? * 0.4444 2.25 1.8 0.5555
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- LO1 If the ending inventory is overstated by 10,000, indicate what, if anything, is incorrect about the following: Cost of goods sold___________ Gross profit___________ Net income___________ Ending owners capital___________If the cost of an inventory is P8 while its net realizable value is P6, the amount of write down is 2.On the basis of the data shown below: Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) МX62 80 $42 $40 05T4 155 20 23 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9. $ 6,925 x
- At what figure should the inventory be valued? *a. P 880,000b. P 760,000c. P 980,000d. P 940,000Suppose have The Following infarmasion you Cost Per unit units Po tar Beguing inventory 200 lo Purchases s 5600 14 Feb. 15 400 b,800 17 Jan. 2 400 9000 18 sep. 12 5.. 155 0s 21 Dec. 2 48,000 1,600 30 Sales 12,000 30 400 oPerah ng exp * Prepare Compar tive income statment under [ fi Fog Lifo, weighted average I A ssume company is subject that the to 30% income tax rare45 Calculate gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return inwards OMR 5000. t of O a. OMR 10000 stion O b. OMR 15000 O c. OMR 5000 O d. OMR 45000 In which of the following Inventory techniques are the 立
- Calculate inventory turnover when cost of goods is 1300000 and inventory is 241500On the basis of the data shown below: Item InventoryQuantity Cost perUnit Market Value per Unit(Net Realizable Value) A13Y 144 $22 $27 TX24 274 11 7 Determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item, as shown in Exhibit 9.Given the following information, how much is the Inventory, beginning? Inventory end. P162,000 Net purchases, P216,000 Cost of goods sold, P144,000.
- If the product was sold P80 per unit, how much was its unit cost? Inventory value that should be shown in the Statement of Financial Position of 08/31/21?On the basis of the data shown below: Item InventoryQuantity Cost perUnit Market Value per Unit(Net Realizable Value) Raven 10 1,700 $163 $159 Dove 23 9,200 24 30 Determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item, as shown in Exhibit 9.$______Suppose the following:Beginning Inventory = 11257Ending Inventory= 12407Beginning Receivables = 6167Ending Receivables = 6879Beginning Payables = 8498Ending Payables = 8829Credit Sales = 93480Cost of Goods Sold = 72325Calculate the following (round final answers to 2 decimal places):Operating Cycle = daysCash Cycle = days