PROBLEM 4: The records of ZZZ Company reveal the following information: A. Goods sold on an installment basis to Luxembourg, Inc., possession of the goods is transferred to Hatred, Inc., P750,000. B Goods sold to Madrid Company for which ZZZ has signed an agreement to repurchasethe goods sold at a set price that covers all costs related to the inventory, P680,000. C. Goods received from YYY Company for which an agreement was signed requiringZZZ to replace such goods in the near future, P580,000. C. Goods purchased from Male, Inc., P430,000. Billing was received although delivery was delayed per request of ZZZ. The goods purchased were segregated and ready for delivery on demand. D. Goods purchased from Managua on a lay away sale agreement, P550,000. The goods were not yet delivered until after ZZZ makes the final payment on the purchase price. ZZZ made total payments of P50,000 during the year. How much is included by ZZZ as part of inventory?
PROBLEM 4: The records of ZZZ Company reveal the following information: A. Goods sold on an installment basis to Luxembourg, Inc., possession of the goods is transferred to Hatred, Inc., P750,000.
B Goods sold to Madrid Company for which ZZZ has signed an agreement to repurchasethe goods sold at a set price that covers all costs related to the inventory, P680,000. C. Goods received from YYY Company for which an agreement was signed requiringZZZ to replace such goods in the near future, P580,000.
C. Goods purchased from Male, Inc., P430,000. Billing was received although delivery was delayed per request of ZZZ. The goods purchased were segregated and ready for delivery on demand.
D. Goods purchased from Managua on a lay away sale agreement, P550,000. The goods were not yet delivered until after ZZZ makes the final payment on the purchase price. ZZZ made total payments of P50,000 during the year.
- How much is included by ZZZ as part of inventory?
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