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What is restated amount of the sales

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Question - Entity A operates in a hyperinflationary economy. Entity A has total sales revenue of P1,200,000 before restatement on December 31, 20x1. The sales were earned evenly during the period. The general price indices are as follows:

December 31, 20x0 100

Average - 20x2 180

December 31, 20x1 200

What is restated amount of the sales?

a. 1,333,333 c. 2,400,000

b. 1,300,000 d. 1,200,000

Reference no: EM133046346

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