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Answer this please An entity sells a new product During a move to a new location, the inventory records iorthe product were misplaced. The bookkeeper

Answer this please

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An entity sells a new product During a move to a new location, the inventory records iorthe product were misplaced. The bookkeeper has been able to gather some data for the purchases and sales records. The July purchases are as follows: Units Unit cost Total cost July 5 10,000 55 550,000 10 12,000 T0 040,000 15 15,000 50 000,000 25 14,000 55 TT0,000 On July 31, 1?,000 units were on hand. The sales for July amounted to P5,000,000 or 50,000 units at P100 per unit. WCompany has always used a perpetual FIFO inventory costing system. Gross prot on sales for July was P2,400,000. 11. What was the cost of the inventory on July 31? a. 3,50 0, 000 b. 1,5?0,000 c. \"0,000 d. 050,000 12. What was the cost of inventory on July 1'? a. 1,300,000 b. 2,40 0, 000 c 050,000 d. T50,000 13. What is the number of units available on July 1'? a. 34,0 00 b. 25,0 00 c 10 ,0 00 d. 0,00 0 14. At December 31, 2020 mmmpany's inventory records indicated a balance of P 532,000. Upon further investigation it was determined that this amount included the following: a P 112,000 in inventory purchases made by {ghting shipped from the seller December 2?, 2020, terms FDB destination, but not due to be received until January 2, 2021. a P "4,000 in goods sold by Wagwith terms FOB destination on December 2?, 2020. The goods are not expected to reach their destination until January 5, 2021 . a P 5,000 of goods received on consignment from Dollywood Company. What is W; correct ending inventory balance at December 31, 2020'? a. P520,000 b. P525,000 c P440,000 d. P514,000 15. On March 15, a re destroyed Intertock Company's entire retail inventory. The inventory on hand as of January 1 totaled P 1,550,000. From January 1 through the time of the re, the company made purchases of P 583,000, incurred freightin of \"5,000, and had sales of$1,210,000. Assuming the rate of gross prot to selling m is 3000, what is the approximate value of the inventory that was destroyed? a. P2040000 b. P1455000 c P1,554,000 d. P2,411,000

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