How much is the amount of inventory?
Oust the Turtle Corporation provided the following data as of December 31, 2020:
Items counted in the bodega 4,000,000
Items included in the count specifically segregated per sales contract 100,000
Items in receiving department, returned by customer, in good condition 50,000
Items ordered and in the receiving department, invoice not received 400,000
Items ordered, invoice received but goods not received. Burden of freight is on the buyer 300,000
Items shipped today, invoice mailed, FOB shipping point 250,000
Items shipped today, invoice mailed, FOB destination 150,000
Items currently held on consignment and in bodega 200,000
Items out on consignment 800,000
Items in the receiving department, refused by us because of damage 180,000
Items included in the count, damaged. Net realizable value is P45,000 50,000
Items sold and in the shipping department. The term is FOB Shipping Point 250,000
How much is the amount of inventory?
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