1. In December 2019, Anxious Company had a significant portion of inventory stolen. Assume, Cost of Sales percentage in 2018 is the same as in 2019. The entity determined the cost of inventory not stolen to be P2,000,000 as of December 31, 2019. 2019 Purchases 6,200,000 2018 5,000,000 Purchase returns and allowances 150,000 200,000 Sales 7,980,000 8,200,000 Sales returns and allowances 80,000 200,000 Beginning inventory 1,400,000 2,000,000 What is the estimated cost of stolen inventory? 2. Healer Company's inventory at June 30, 2019 was P840,000 based on a physical count of goods priced at cost before any necessary year-end adjustment relating to the following: Included in the physical count were goods billed to a customer FOB shipping point on June 30, 2019. These goods costing P20,000 were picked up by the carrier on July 9, 2019. Goods shipped FOB destination on June 28, 2019 from a vendor to Healer was received on July 2, 2019. The invoice cost was P25,000. Included in the physical count were goods costing P67,000 on consignment. Healer is a consignee to these goods. Goods were in transit from a vendor to Healer on June 30, 2019. The invoice cost was P60,000 and the goods were shipped FOB shipping point on June 27, 2019. Healer received the goods on July 4, 2019. What amount of inventory should be reported in the June 30, 2019 Statement of Financial Position? 3. Tape Company reported the following balances at December 31, 2019 and 2020: Inventory Accounts Payable December 31, 2020 P2,600,000 750,000 December 31, 2019 P2,900,000 500,000 The company paid its suppliers P4,900,000 during the year ended December 31, 2020. Required: a. How much is the total purchases for the year 2020? b. Prepare entries to record the purchases on account and the subsequent payment to suppliers during the year ended December 31, 2020. c. How much is the cost of goods sold in its December 31, 2020 Income Statement?