Reference no: EM133179851
Question - Kilay Company asks you to review its Dec. 31, 2022, inventory values and prepare the necessary adjustments to the books. The following information is given to you.
a. Kilay uses the periodic method of recording inventory. A physical count reveals P3,000,000 inventory on hand at Dec. 31, 2022.
b. Included in the physical count of inventory is P140,000 of merchandise purchased on Dec.26 from Standing. This merchandise was shipped F.O.B. shipping point on Dec. 29 and arrived in Jan. The invoice arrived and was recorded on Dec. 31.
c. Not included in inventory is merchandise sold to Oval on Dec. 30, F.O.B. destination. The invoice was prepared and recorded as a sale on account for P140,000 on Dec. 31. The merchandise cost P80,000, and Oval received it on Jan. 3.
d. Included in inventory was merchandise received from Owl on consignment on Dec. 31 with an invoice price of P150,000.
e. Included in the inventory was merchandise costing P110,000 shipped FAS on December 27, 2022. The invoice excludes the cost of shipment amounting to P25,000.
Required - What the adjusted inventory cost of Matcha Company at December 31, 2022?
a. P3,065,000
b. P3,205,000
c. P3,055,000
d. P2,955,000
|
Linear optimization model
: Find a current example of a linear optimization model used in your industry. Describe the industry's needs, including any unique factors,
|
|
How much is the balance of lease liability as of december
: The machine is expected to dismantle at a cost of P75,000 after the lease contract. How much is the balance of lease liability as of December
|
|
Describe the three levels of case management
: Describe the three levels of case management with a brief example of a micro, meso, and macro level need that a typical client in addiction treatment might have
|
|
What impact can bullying and hazing have on individual nurse
: It is not uncommon for team issues to exist, as many individuals are coming together trying to perform to the best of their ability, in conjunction with individ
|
|
What the adjusted inventory cost of matcha company
: Included in the inventory was merchandise costing P110,000 shipped FAS on December 27, 2022. What the adjusted inventory cost of Matcha Company
|
|
Develop an operational plan of a maximum time horizon
: Identify, analyse, and develop an operational plan of a maximum time horizon of two years for a public vaccination and promotion plan
|
|
Understanding of the history of philippine popular culture
: For module 1, you are expected to do timeline demonstrating your understanding of the history of Philippine popular culture.
|
|
Personal capacities should person develop to be good leader
: What personal capacities should a person develop to be a good leader versus those developed to be a good manager?
|
|
What is the carrying value of the investment
: What is the carrying value of the investment in its December 31, 2022 statement of financial position
|