C goods costing p637500 were shipped on and were

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c. Goods costing P637,500 were shipped on December 31, 2018, and were delivered to the customer on January 3, 2019. The terms of the invoice were FOB shipping point. The goods were included in the 2018 ending inventory even though the sale was recorded in 2018. d. Goods costing P217,500 were received from a vendor on January 4, 2019. The related invoice was received and recorded on January 6, 2019. The goods were shipped on December 31, 2018, terms FOB shipping point. e. Goods valued at P275,000 are on consignment with a customer. These goods are not included in the inventory figure. f. Goods valued at P612,800 are on consignment from a vendor. These goods are not included in the physical inventory. Page 18 Based on the above and the result of your audit, determine the adjusted balances of the following as of December 31, 2018: 1. Cash A. P963,200 B. P681,000 C. P668,600 D. P693,400 2. Accounts receivable
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A. P2,908,600 B. P2,564,000 C. P2,254,000 D. P2,548,500 3. Inventory A. P6,035,000 B. P6,080,000 C. P5,860,000 D. P5,010,000 4. Accounts payable A. P4,790,900 B. P4,615,900 C. P4,573,000 D. P4,603,500 5. Current ratio A. 2.00 B. 1.83 C. 1.84 D. 2.01 ---END---
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