What is the correct amount of inventory on December 31, 2021? Emperador Company counted and reported the ending inventory on December 31, 2021, at P2,800,000. The following items were not yet included when the total amount of the ending inventory was computed: Goods located in the entity's warehouse that are on consignment from another entity Goods sold by the entity and shipped FOB destination was in transit on Dec. 31, 2021, and received by the customer on January 2, 2022 Goods purchased by the entity and shipped FOB seller were in transit on Dec. 31, 2021, and receive by the entity on January 2, 2022 Goods sold by the entity and shipped FOB shipping point were in transit on Dec. 31, 2021, and received by the customer on January 2, 2022 P285,000 P310,000 P440,000 P550,000

What is the correct amount of inventory on December 31, 2021? Emperador Company counted and reported the ending inventory on December 31, 2021, at P2,800,000. The following items were not yet included when the total amount of the ending inventory was computed: Goods located in the entity's warehouse that are on consignment from another entity Goods sold by the entity and shipped FOB destination was in transit on Dec. 31, 2021, and received by the customer on January 2, 2022 Goods purchased by the entity and shipped FOB seller were in transit on Dec. 31, 2021, and receive by the entity on January 2, 2022 Goods sold by the entity and shipped FOB shipping point were in transit on Dec. 31, 2021, and received by the customer on January 2, 2022 P285,000 P310,000 P440,000 P550,000

Name: What is the correct amount ofinventory on December 31, 2021?Emperador
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Description: What is the correct amount ofinventory on December 31, 2021?Emperador Company counted and reported the ending inventory on December 31, 2021, at P2,800,000.The following items were not yet included when the total amount of the ending inventory wasco

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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