Please answer the questions indicating below each given problems

PROBLEM 6: XXX Company is preparing its 202] financial statements. Prior to any adjustments. inventory is vaiued at P1 .605.000. The following information has been found relating to certain inventory transactions from your cut-off test: 6. 7. A. B. C. Goods valued at Pi 10.000 are on consignment with a customer. These goods were not included in the ending inventory figure. Goods costing P87.000 were received from a vendor on January 5. 2022. The related invoice was received and recorded on January 12. 2022. The goods were shipped on December 31. 2021. terms FOB shipping point. Goods casting P85.000. sold for P102000. were shipped on December 31. 202i. and were delivered to the customer on January 2. 2022. The terms of the invoice were FOB shipping paint. The goods were included in the ending inventory for 2021 and the sale was recorded in 2022. A P35.000 shipment of goods to a customer on December 3|. terms FOB destination was not included in the year-end inventory. The goods cast P26.000 and were delivered to the customer on January 8. 2022. The sale was properly recorded in 2022. The invoice for goods costing P35.000 was received and recorded as a purchase on December 31, 2021. The related goods. shipped FOB destination were received on January 2. 2022 and thus were not included in the physical count. Goods valued at Pi54.000 are on consignment from a vendor. These goods were not included in the physical inventory. A P60.000 shipment of goods to a customer on December 30. 2021. terms FOB destination. was recorded as a sale in 2022. The goods. casting P37.000 and delivered to the customer on January 6. 2022, were not included in the 2021 ending inventory. Compute the proper inventory amount to be reported on XXX's statement of financial position for 2021. By how much would the net income be understated if no adjustments were? PROBLEM 7: The accounting staff of 383 Company submitted an inventory list at December SI. 2020 which showed a total of Pl.500.000. The following informatiOn which may or may not be relevant to the inventory value submitted, are given below: 8. A. Excluded from the inventory were merchandise costing P24.000 because they were transferred to the delivery department for packaging on December 28 to be shipped on January 2, 2022. The bill of fading and other import documents on a merchandise were delivered by the bank and the trust receipt accepted by the company on December 26. 2020. Taxes and duties have been paid on this shipment but the customs broker has not delivered the merchandise until January 7. 2022. Delivered cost of the shipment totaled P240000. This shipment was not included in the inventory in December 2020. Supplier's invoice for P9,000 worth of merchandise dated December 28. 2020 was received though the mails on December 30, 2020 although the goods arrived only on January 4. 2022. Shipment term is FOB shipping point. This item was included in the December 31, 2020 inventory by the company. Goods valued at P6,000 were received on December 28. 2020 for approval by SSS Company. The inventory team included this merchandise in the list but did not place any value on it. On January 4. 2022, the company informed the supplier by long distance telephone of the acceptance of the goods and the supplier's invoice was received on January 7, 2022. On December 27. 2020. an order for P7.500 worth of merchandise was placed. This was included in the year-end inventory although it was received only on January 5. 2022. Seller shipped the goods FOB destination. A review of the company's purchase orders shows a commitment to buy P30.000 worth of merchandise. This was not included in the inventory because the goods were received on January 3. 2022. The correct merchandise inventory at December 31. 2020 of 555 Company is