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The home office ships merchandise to the branch at 25percent above cost. If the balance...

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Accounting

The home office ships merchandise to the branch at 25percent above cost. If the balance before closing in the Intracompany inventory Profit account is Php 66,000 and Shipments from Home Office amounted to 300,000, what was the cost of the branch's beginning inventory? P24,000 P80,000 P30,000 P96,000

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