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X 9. INVENTORIES - ESTIMATIONS (Group 11_Deadline Aug 31.pdf - Adobe Acrobat Pro DC (32-bit) File Edit View Sign Window Help Home Tools 9. INVENTORIES - F... * ICT COPY - BSA - R... + Billing Issue DELID 12 @ 12 / 22 75% - E GOSLOISOS 4.000.000 2 850 000 4) The flowing dala were taken from the records of Marie Margaret Company 1/1/20 - 12/31/20 1/1/21 - 930121 Sains 3.500.000 Sales discount 120,000 80,000 Sales Telum 300,000 150,000 Boginning inwentory 600,000 990,000 Purchases 2552 000 1.200.000 Freight-in 116,000 100,000 Purchase discounts 130,000 150,000 Purchase returns 140,000 130,000 Purchase allowances 88,000 50.000 Ending Inventory 990,000 ? Using the gross proht method and gross pront rate of 40%, what is the ending inventory of Manis Margaret Company on September 20 2021? A 460,000 B 397,500 C. 508,000 D 447.500 po & D C VODYO 1) On October 1, 2022, a fire damaged a warchouse of Marshall Law Corporation. The entire company and many accounting records stored in the warehouse were completely destroyed. Allrough the inventory was not insured, a portion could be sold for scrap. Through the use of microfilmed record the following data were gathered Inventory, January 1 575.400 Accounts payabb, January 1 352,560 Accounts payable, October 1 491,400 Goods out on consignment on October 1 at oost 195,000 Payments to suppliers, January 1 to October 1 1950.000 Collections of accounts receivable, January 1 to October 1 3.015,200 Accounts receivable. January 1 522,360 Accounts receivabin, October 1 515 580 Goods in transit on October 1 purchased FOB shipping point included in total purchases 69,500 Gmss pritrate on is 30% How much is the estimated inventory Insa? A 303,360 B. 293,860 C488.860 D. 568.360 Type here to search EN 0 27C 49) ENG 10:42 pm 28/03/2021 X 9. INVENTORIES - ESTIMATIONS (Group 11_Deadline Aug 31.pdf - Adobe Acrobat Pro DC (32-bit) File Edit View Sign Window Help Home Tools 9. INVENTORIES - F... * ICT COPY - BSA - R... Billing Issue 12 GELD 13 / 22 70% E 22 do 1) Zomino Corporation had the following amounts under retainventory method: Beginning inventary-coat Purchases Purchase -COM 6,000 Nei mark Abnormal shortage- 4.000 Netmarkdowns Sales 72.000 Sabres Sales Discounts 3,000 Abnormal short-real Purchaser 7,500 Purch Purchase allowance 1,000 Beginning inventory-retail How much is the estimated cost of walory under FIFO? A 74,446 B73,567 C. 11,474 120 X 18.000 2 800 1,800 5,500 200.000 5.000 D.137,000 1) An inventory taken the morning aller a large the discloses 786,000 of goods on hand as of April 10. The following additional data is available from the books: Inventory on hand. April 1 HD 0 on G N @ Purchases received, April 1-10 120,000 Salos (goods delivered to customers) 160,000 Salos rolurs....... 6,000 Sales discounts 2.800 Pasi records indicate that sales are made at 40% above cost. How much is the estimated amount of the theft loss? A. 0 B. 4,000 C. 6.000 D. 21,600 1) On December 31, 2021, abyphoon damaged a warehouse of Nucor Corporation. The entire company and many accounting records stored in the warchouse were completely destroyed. Although the inventory was not insured, a ponion could be sold for scrap Through the use of microfimed records the following data were gathered Inventory, January 1, P450,000; Purchascs, P2,160,000; Cach cales, P273,600; Amount of accounts receivable collected, P2,520,000; Accounts receivable January 1, P210.000; Accounts written off, P9,000; Recovery of accounts witten ott, P2,600 Accounts receivable - December 31, P343.00: Sales returns P135000: Sales discount, P14,400; Purchase returns, P60.000; Purchase discounts, P12,000, Freight in, P21,600, Salvage value of damaged inventory. P90,000 while an undamaged inventory that were marked to sclat P150,000 were recovered. Gracz profit pcrcentage on sales, 32%. How much is the value of inventory loss? A. 313,872 B. 339,840 C. 361,872 D. 371,664 Type here to search 29C A 9) ENG 10:59 pm 28/08/2021