Hi! I am currently reviewing for an upcoming exam and I am not trying to broaden my knowledge about this. Can you please help me answer these questions?

1. Joy Ride's beginning inventory amounted to Php250,000. Net purchases amounted to Php70,000. Freight is 15,000. Compute for the company's cost of goods available for sale.

2. Company's Cost of Goods Sold amounted to Php235,000. Net cost of purchases totaled Php85,000. Beginning inventory amounted to Php250,000. Sales amounted to Php500,000. Compute for the company's Ending Inventory.

3. Joy Ride's purchases is Php100,000 while purchase returns and purchase discounts amounted to Php20,000 and Php10,000 respectively. How much is the company's purchases?

4. Gross profit of Happy Joy Ride amounted to Php175,000. Net Sales is Php300,000, compute for cost of goods sold?

5. Joy Ride Company's salaries to sales agents amounted to Php10,000. Salaries of accountants amounted to Php20,000. No other expenses were incurred. How much is the company's general and administrative expense?