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Natal Company provided the following information: Materials 1,400,000 200,000 Advance for materials ordered Goods in process 650,000 150,000 Advertising catalogs and shipping cartons Finished goods
Natal Company provided the following information: Materials 1,400,000 200,000 Advance for materials ordered Goods in process 650,000 150,000 Advertising catalogs and shipping cartons Finished goods in the factory Finished goods in a company-owned retail store, including a 50% profit on 2,000,000 750,000 cost 400,000 250,000 Finished goods in the hands of consignees, including 40% profit on sales Finished goods in transit to customers, shipped FOB destination at cost Finished goods out on approval, at cost Unsalable finished goods, at cost 100,000 50,000 Office supplies 40,000 330,000 Materials in transit, shipped FOB shipping point, excluding freight of P30,000 Goods held on consignment, at sales price, cost P150,000 200,000 Compute for the correct amount of inventory
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