What amount should be reported as inventory on December 31, 2021? Fundador Company reported that inventory on December 31, 2021, is at P375,000 based on a physical count priced at its cost and before any adjustments for the following: Merchandise amounting P60,000 shipped FOB shipping point from a vendor on December 31, 2021, was received on January 7, 2021. Merchandise amounting P22,000 shipped FOB destination from a vendor on December 28, 2021, was received on January 6, 2021. Merchandise amounting P38,000 shipped to a customer FOB destination on December 28, 2021, arrived at the customer location on January 4, 2022. Merchandise amounting P12,000 was being held on consignment by Alfred Company, a consignee of Fundador Company. Merchandise sent to sales agency of the company for P4,000 has been included as part of the inventory figure per physical count on December 31, 2021.

What amount should be reported as inventory on December 31, 2021? Fundador Company reported that inventory on December 31, 2021, is at P375,000 based on a physical count priced at its cost and before any adjustments for the following: Merchandise amounting P60,000 shipped FOB shipping point from a vendor on December 31, 2021, was received on January 7, 2021. Merchandise amounting P22,000 shipped FOB destination from a vendor on December 28, 2021, was received on January 6, 2021. Merchandise amounting P38,000 shipped to a customer FOB destination on December 28, 2021, arrived at the customer location on January 4, 2022. Merchandise amounting P12,000 was being held on consignment by Alfred Company, a consignee of Fundador Company. Merchandise sent to sales agency of the company for P4,000 has been included as part of the inventory figure per physical count on December 31, 2021.

Name: What amount should be reportedas inventory on December 31,2021?Fundad
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Description: What amount should be reportedas inventory on December 31,2021?Fundador Company reported that inventory on December 31, 2021, is at P375,000 based on a physicalcount priced at its cost and before any adjustments for the following:Merchandise amounti

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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