Reference no: EM132836087
Problem - The inventory on hand December 31, 2020 for Smart Corporation is valued at a cost of P5,000,000.00. The following items were not included in the inventory:
Goods purchased in transit shipped FOB destination, with price of P350,000.00, which includes freight charge of P25,000.00.
Goods sold in transit FDB destination with invoice price of P500,000.00 which includes freight charge of P45,000.00 to deliver the goods.
Goods held on consignment by Smart at a sales price of P120,000.00, excluding a 30% commission on the sales price. Freight paid by Smart, P12,000.00.
Goods purchased in transit FOB shipping point with invoice of P620,000.00. Freight cost amounts to P60,000.00.
Goods out on consignment with sales price of P310,000.00. Shipping cost amounts to P30,000.00.
The company sells goods at 150% of cost.
Required - What is the correct inventory on December 31, 2020?
A. 6,320,000
B. 6,660,000
C. 6,540,000
D. 6,220,000
|
Describe meeting times and importance
: Imagine your co-worker has just been assigned by a company to work in the South Korea office for three months.
|
|
Executive leadership of the organization
: As a member of the strategic team: Explain why the CIO should be in the executive leadership of the organization
|
|
Mortgage modification programs for some real estate owners
: Please conduct independent Internet research on the most recent mortgage foreclosure crisis. This crisis impacted both the residential and commercial real estat
|
|
Undercover boss canada edition
: 1. While watching Undercover Boss Canada, identify some of the activities that are taking place in each of the management functions. Where there are issues, mak
|
|
What is the correct inventory on December
: Goods out on consignment with sales price of P310,000.00. Shipping cost amounts to P30,000.00. What is the correct inventory on December 31, 2020
|
|
Explain alternative dispute resolution
: If you had a dispute, would you prefer to litigate or use alternative dispute resolution? Why?
|
|
Differentiation strategy of lego
: Differentiation strategy of LEGO, what is the basis of differentiation, what makes LEGO LEGO and why people want to buy it.
|
|
What is a christian worldview
: If you are a Christian, how does your Christian worldview (or if not a Christian, your religious, or non-religious worldview) influence your leadership?
|
|
Differences between secular leader and servant leader
: What are the primary differences between a secular leader and a servant leader?
|