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What amount of cost for good should be included in inventory

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Reference no: EM132696436

Problem 1: On December 28, 2020, Cole Manufacturing Co. purchased goods costing P500,000. The terms were FOB Destination and were received by the company on December 31, 2020. Some of the costs incurred in connection with the sale and delivery of the goods were as follows: Packaging for shipment P10,000 Shipping 15,000 Special handling charges 20,000 In Cole's December 31, 2020 balance sheet, what amount of cost for these goods should be included in inventory

a. P545,000
b. P535,000
c. P525,000
d. P500,000

Reference no: EM132696436

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