Eme Rald Architects is owned by Arch. Eme Rald. During 2019, Arh. Rald invested additional drafting supplies of ₱140 000. Also, Eme Rald architects earned a net income of ₱105 000. Arch. Rald also withdrew cash of ₱70 000. Finally, Arch Rald's ending capital balance amounted to ₱455 000 as at December 31,2015. 1. How much is Arch. Eme Rald's beginning capital balance (January 1,2019) 2. Prepare a statement of changes in equity for Eme Rald Architects

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.