a. Purchased goods in transit, shipping FOB Destination. Invoice price - P64,000, which includes freight charges of P1,600. b. Goods held on consignment by Radcon at a sales price of P56,000, including 30% sales commission based on the sales price c. Goods sold to Taro Company, under terms FOB destination, invoiced for P48,800 which includes P2,000 freight charges to deliver the goods. The goods are in transit d. Purchased goods in transit, terms FOB shipping point. Invoice price - P96,000. Freight costs, P6,000. e. Goods out on consignment to Can Company, sales price, P72,800. Shipping cost of P4,000.

a. Purchased goods in transit, shipping FOB Destination. Invoice price - P64,000, which includes freight charges of P1,600. b. Goods held on consignment by Radcon at a sales price of P56,000, including 30% sales commission based on the sales price c. Goods sold to Taro Company, under terms FOB destination, invoiced for P48,800 which includes P2,000 freight charges to deliver the goods. The goods are in transit d. Purchased goods in transit, terms FOB shipping point. Invoice price - P96,000. Freight costs, P6,000. e. Goods out on consignment to Can Company, sales price, P72,800. Shipping cost of P4,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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