The following data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020, and December 31, 2019: Accounts Receivable increase P7,600 Inventory decrease 4.500 Accounts Payable increase 2,400 The following data are from Shaun's 2020 income statement: Sales P200.000 Cost of Goods Sold 110.000 How much cash was paid for inventory purchases?

The following data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020, and December 31, 2019: Accounts Receivable increase P7,600 Inventory decrease 4.500 Accounts Payable increase 2,400 The following data are from Shaun's 2020 income statement: Sales P200.000 Cost of Goods Sold 110.000 How much cash was paid for inventory purchases?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 16PB: Use the following information relating to Medinas Company to calculate the inventory turnover ratio,...

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