Problern 2 JILLIAN Corporason has adjusted ard chsed its tooks at the era Of 201 g. The Company arrives at its inventory position by a physical count taken on Decenter 31 of each year March 2020, the fdbwing errors were discovered: Merchanse cost P7500 was sold for P1020C on Cecember 30, 20 lg. The orderwas shipped Decemr 31, 2019, with rms FOB shipping *nt. The merchardise was not ineuded in he erding inventory. The sale was rezord on January 15, 2020, when the made on sale. On January 2, 2020, JILLIAN Corporation recevei merchaMse that had teen shipped to it December 31, 201g_ The terms of the purchase were FOB shipng point Cost of the n-erchandise was P5,250_ pur&'ase was recorded and gocds in the inventory cn January 2, 2020.