e Goods were in transit from a vendor to Bulls on December 31, 2015. The invoice cost was P71 200 and the goods were shipped FOB shipping point on December 29, 2015. f Work in process inventory costing P30.000 was sent to an outside processor for plating on December 30, 2015 & Goods returned by customers and held pending inspection in the returned goods area on December 31, 2015 were not included in the physical count. On January 8, 2016, the tools casting P32.000 were inspected and retumed to inventory. Credit memos totaling P47,000 were issued to the customers on the same date. h Goods shapped to a customer FOB destination on December 26, 2015 were in transit at December 31, 2015. und had a cost of P21,000. Upon notification of receipt by the customer on January 2, 2016, Bulls issued a sales invoice for P42.000 i Goods, with an invoice cost of P27.000, received from a vendor at 5:00 p.m. on December 31, 2015. were recorded on a receiving report dated January 2, 2016. The goods were not included in the physical count, but the invoice was included in accounts payable at December 31, 2015. j Goods received from a vendor on December 26, 2015 were included in the physical count. However, the related P56.000 vendor invoice was not included in accounts payable at December 31, 2015, because the accounts payable copy of the receiving report was lost. k On January 3, 2016, a monthly freight bill in the amount of P6,000 was received. The bill specifically related to merchandise purchased in December 2015. one-half of which was still in the inventory at December 31, 2015. The freight charges were not included in either the inventory or accounts payable at December 31, 2015. e Goods were in transit from a vendor to Bulls on December 31, 2015. The invoice cost was P71 200 and the goods were shipped FOB shipping point on December 29, 2015. f Work in process inventory costing P30.000 was sent to an outside processor for plating on December 30, 2015 & Goods returned by customers and held pending inspection in the returned goods area on December 31, 2015 were not included in the physical count. On January 8, 2016, the tools casting P32.000 were inspected and retumed to inventory. Credit memos totaling P47,000 were issued to the customers on the same date. h Goods shapped to a customer FOB destination on December 26, 2015 were in transit at December 31, 2015. und had a cost of P21,000. Upon notification of receipt by the customer on January 2, 2016, Bulls issued a sales invoice for P42.000 i Goods, with an invoice cost of P27.000, received from a vendor at 5:00 p.m. on December 31, 2015. were recorded on a receiving report dated January 2, 2016. The goods were not included in the physical count, but the invoice was included in accounts payable at December 31, 2015. j Goods received from a vendor on December 26, 2015 were included in the physical count. However, the related P56.000 vendor invoice was not included in accounts payable at December 31, 2015, because the accounts payable copy of the receiving report was lost. k On January 3, 2016, a monthly freight bill in the amount of P6,000 was received. The bill specifically related to merchandise purchased in December 2015. one-half of which was still in the inventory at December 31, 2015. The freight charges were not included in either the inventory or accounts payable at December 31, 2015