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Ass.-3.1.xlsx - Natal Company provided the following...

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Natal Company provided the following information:MaterialsAdvance for materials orderedGoods in ProcessUnexpired insurance on inventoriesAdvertising Catalogs and shipping cartonsFinished goods in factoryFinished goods in company-owned retail store, including 50Finished goods in hands of consignee including 40% profit oFinished goods in transit to customers, shipped FOB DestinaFinished goods out on approval, at costUnsalable finished goods, at costOffice SuppliesMaterials in transit shipped FOB Shipping point, excluding fGoods held on consignment, at sales price, cost P150,000.0Required:Compute the correct amount of inventory.
Natal CompanyAmount₱1,400,000.00₱1,400,000.00200,000.00650,000.00650,000.0060,000.00150,000.002,000,000.002,000,000.000% profit on cost750,000.00500,000.00on sales400,000.00240,000.00ation at cost250,000.00250,000.00100,000.00100,000.0050,000.0040,000.00freight of P30,000.00330,000.00360,000.0000200,000.00₱5,500,000.00
SP - 150%Cost-100%Profi- 50%750,000/150%SP- 100%400,000x60%Cost-60%Profit- 40%330,000+30,000
Problem 10 -4Summer Companya.)Journal EntryPeriodic SystemDrCr1 Purchases800,000.001 MerchandiAccounts Payable800,000.002 Accounts Payable50,000.002 Accounts PPurchase Return50,000.003 Accounts Payable600,000.003 Accounts P

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Term
Summer
Professor
N/A
Tags
invoice, Kew

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