PHILIPPINE COLLEGE OF NORTHWESTERN LUZON, INC.

San Antonio, Agoo, La Union

INVENTORY CONTROL OF HALOG WEST PRODUCERS COOPERATIVE, INC.

In partial fulfillment of the requirements of the Subject Course

(Accounting Research and Methods)

BACHELOR OF SCIENCE IN ACCOUNTANCY

Submitted to:

Toni Mei B. Asuncion, CPA

Instructor

Submitted by:

Babylyn V. Navarro

September 2020
 CHAPTER I

COMPANY NAME: HALOG WEST PRODUCERS COOPERATIVE INC.

HISTORY:

Farmer members of the Halog West Producers’ Cooperative, Inc. in Halog West, Tubao, La

Union process their corn crops into chichacorn, giving them additional income. The cooperative also aims

to process bananas and cassava into chips as they seek a wider market for their products.

Halog West Producers’ Cooperative, Inc. was established on March 05, 1992, with its founder

Mr. Benidecto Rivera. The Halog West Producers Cooperative, Inc. is now handled by Mrs. Nena Panes.

Farmer members of the Halog West Producers’ Cooperative, Inc. have been earning through their

chichacorn (deep-fried crunchy puffed corn) processing over the last two decades, aside from farming on

121.6 hectares of agrarian reform land in Barangay Halog West, Tubao, La Union.

From their seed capital of 5,000 pesos, the cooperative has 100, 000 cash in bank and with more

than 2,000,000 pesos in assets. Under the Village – Level Processing Center Enhancement Program

(VLPCEP) of the Department of Agrarian Reform (DAR), the processing center of the cooperative was

constructed. The VLPCEP aims to develop market competitive agrarian reform beneficiary (ARB)

products and enhance enterprise and livelihood activities in selected agrarian reform areas. The

processing of corn emerged with the abundance of different varieties of corn here in our community.

They use only white corn for their chichacorn, and they mastered the way to maintain the crunchiness,

thus it remains whole even if it underwent processing. The products are approved by the Food and Drug

Administration (FDA), and these are also complete with packaging along with other requirements. The

chichacorn is currently labeled as Halog Munchies Chichacorn, but a plan to change it to Tubao Munchies

is underway. Halog chichacorn was awarded Best Food Product during DAR’s National Trade Festival in

2007. Aiming its high success, challenges in their food processing, and citing flooding in their farmlands

are their constant struggles.

The farmers in the Halog West are the great asset of the cooperative, having long been together.

They have been farming – from our great grandparents to our parents and us. Tubao was known before

for steamed corn as our product, but since many have been doing it already, the Department of Trade and

Industry (DTI) helped the cooperative come up with the idea of chichacorn. But the cooperative has been
through a lot. Nonetheless, DAR, Department of Agriculture (DA), and the Local Government Units

(LGU) help the cooperative grow wider in the industry of food production.

Cooperative continues to evolve through time as it tries processing other products. Looking into

possibilities of processing bananas and cassava which is also abundant in our community, into chips.