The Chivas Regal owns the Royal Crown in Quezon City and a branch in Davao City. During 2016, the home office shipped to the branch supplies costing P120,000 at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: January 1, 2016, P90,000; December 31,2016, P108,000. On December 31, 2016 the home office holds inventories of P160,500 which includes P10,500 held on consignment and excludes 5000 inventories out on consignment. How much is the inventories in a combined statement of financial position as of December 31, 2016?

The Chivas Regal owns the Royal Crown in Quezon City and a branch in Davao City. During 2016, the home office shipped to the branch supplies costing P120,000 at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: January 1, 2016, P90,000; December 31,2016, P108,000. On December 31, 2016 the home office holds inventories of P160,500 which includes P10,500 held on consignment and excludes 5000 inventories out on consignment. How much is the inventories in a combined statement of financial position as of December 31, 2016?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 11P

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