11. Samuel Manuel Co., a manufacturer, had inventories at the beginning and end of its current year as follows: Beginning P11,000 P15,000 20,000 End Raw materials Work in process Finished goods 24,000...

Multiple choice

Extracted text: 11. Samuel Manuel Co., a manufacturer, had inventories at the beginning and end of its current year as follows: Beginning P11,000 P15,000 20,000 End Raw materials Work in process Finished goods 24,000 12,500 9,000 During the year, the following costs and expenses were incurred: Raw materials purchased Direct labor cost Indirect factory labor Taxes and depreciation on factory building Taxes and depreciation on sales room and office Sales salaries P 150,000 60,000 30,000 10,000 7,500 20,000 12,000 Office salaries Utilities (60% applicable to factory, 20% to sales room, and 20% to office) 25,000 Manuel's cost of goods sold for the year is a. P257,000 b. P260,500 C. P261,000 d. P269,500 499