d goods in storeroom, at cost; including overhead of P400,000 or 20%.                2,000,000 Finished goods in transit, including freight charge of P20,000, FOB shipping point                    250,000 Finished goods held by salesmen, at selling price, cost, P100,000                    140,000 Goods in process, at cost of materials and direct labor                    720,000 Materials                1,000,000 Materials in transit, FOB destination                      50,000 Defective materials returne

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A: Requirement 1:

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A:

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A: 1a.

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A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…