1 how much is the sales for the period january 1 to

1. How much is the sales for the period January 1 to April 21, 2017?
a. P1,430,000 c. P1,519,500
b. P1,510,000 d. P1,506,000
2. How much is the net purchases for the period January 1 to April 21, 2017? 3. How much is the cost of sales for the period January 1 to April 21, 2017?
4. How much is the estimated inventory on April 21, 2017?
5. How much is the estimated inventory fire loss?
a. P579,500 c. P477,000
b. P535,000 d. P512,000
6. An auditor is most likely to learn of slow-moving inventory through 7. If the perpetual inventory records show lower quantities of inventory than the physical count, an
explanation of the difference might be unrecorded

8. Periodic cycle counts of selected inventory items are made at various times during the year
rather than a single inventory count at year-end. Which of the following is necessary if the
auditor plans to observe inventories at interim dates?