EXERCISE 1

Items counted in the bodega

Items included in the count specifically segregated per sales con
Items in receiving department, returned by customer, in good c
Items ordered and in the receiving department, invoice not rec
Items shipped today, invoice mailed, FOB destination
Items currently being used for window display
Items on counter for sale
Items included in count, damaged and unsalable
Items in the shipping department
CORRECT INVENTORY

EXERCISE 2
Materials
Goods in process
Finished goods in factory
Finished goods in company-owned retail store, including 50% p
Finished goods in hands of consignee including 40% profit on sa
Finished goods in transit to customers, shipped FOB destination
Finished goods out on approval, at cost
Materials in transit shipped FOB shipping point, excluding freigh
CORRECT INVENTORY
EXERCISE 3
Finished goods in storeroom, at cost including overhead of P40
Finished goods held by salesmen, at selling price, cost P100,000
Goods in process, at cost of materials and direct labor
Materials
Defective materials returned to suppliers for replacement
Factory supplies
Inventory, end

EXERCISE 4
 ated per sales contract
stomer, in good condition
t, invoice not received
tination

, including 50% profit on cost

g 40% profit on sales
d FOB destination, at cost

t, excluding freight of P 30,000

overhead of P400,000
ce, cost P100,000
ct labor

eplacement
SOLUTION
4,000,000
(100,000)
50,000
400,000
150,000
200,000
800,000
(50,000)
250,000
5,700,000

1,400,000
650,000
2,000,000
500,000 750,000/150%
240,000 400,000/60%
250,000
100,000
360,000 330,000 + 30,000
5,500,000
2,000,000
100,000
900,000 720,000/80%
1,000,000
100,000
170,000 110,000 + 60,000
4,270,000