Materials P 1,400,000 Advance for materials ordered 200,000 Goods in process 650,000 Unexpired insurance on inventories 60,000 Advertising catalogs and shipping boxes 150,000 Finished goods in factory 2,000,000 Finished goods in company-owned retails store, including 50% profit on cost 750,000 Finished goods in hands on consignees including 40% profit on sales 400,000 Finished goods in transit to customers, shipped FOB destination, at cost 250,000 Finished goods out on approval, at cost 100,000 Unsalable finished goods, at cost 50,000 Office supplies 40,000 Materials in transit shipped FOB shipping point, excluding freight of P30,000 330,000 Goods held on consignment, at sales price, cost P150,000 200,000 37.How much is the correct amount of inventories?
Materials P 1,400,000 Advance for materials ordered 200,000 Goods in process 650,000 Unexpired insurance on inventories 60,000 Advertising catalogs and shipping boxes 150,000 Finished goods in factory 2,000,000 Finished goods in company-owned retails store, including 50% profit on cost 750,000 Finished goods in hands on consignees including 40% profit on sales 400,000 Finished goods in transit to customers, shipped FOB destination, at cost 250,000 Finished goods out on approval, at cost 100,000 Unsalable finished goods, at cost 50,000 Office supplies 40,000 Materials in transit shipped FOB shipping point, excluding freight of P30,000 330,000 Goods held on consignment, at sales price, cost P150,000 200,000 37.How much is the correct amount of inventories?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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Materials P 1,400,000 Advance for materials ordered 200,000 Goods in process 650,000 Unexpired insurance on inventories 60,000 Advertising catalogs and shipping boxes 150,000 Finished goods in factory 2,000,000 Finished goods in company-owned retails store, including 50% profit
on cost 750,000 Finished goods in hands on consignees including 40% profit on sales 400,000 Finished goods in transit to customers, shipped FOB destination, at cost 250,000
Finished goods out on approval, at cost 100,000 Unsalable finished goods, at cost 50,000 Office supplies 40,000 Materials in transit shipped FOB shipping point, excluding freight of
P30,000 330,000 Goods held on consignment, at sales price, cost P150,000 200,000
37.How much is the correct amount of inventories?
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