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What is the measurement of inventory

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Problem - On December 28, 2020, Monaco Company purchased goods costing P550,000. The term is FOB destination. These goods were received on December 31, 2020. Some of the costs incurred in connection with the purchase of the goods were as follows:

Packaging For shipment 10,000

Shipping 15,000

Special handling charges 25,000

In the December 31, 2020 statement of financial position, what is the measurement of inventory?

Reference no: EM133034629

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