question archive A company has budgeted purchases of Php 100,000
A company has budgeted purchases of Php 100,000
Subject:FinancePrice:2.86 Bought30
A company has budgeted purchases of Php 100,000. Cost of sales was Php 120,000 and the desired ending inventory was Php 42,000. What is the beginning inventory?
--- choice - 2 points // solution 3 points
Select one:
a. 62,000
b. 32,000
c. 42,000
d. 20,000
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OPENING STOCK + PURCHASES = COST OF SALES + CLOSING STOCK
OPENING STOCK= COST OF SALES+ CLOSING STOCK- PURCHASES
OPENING STOCK= 120000+42000-100000
OPENING STOCK =62000
ANSWER a.62,000
