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16. Gonzaga Company uses the weighted average method to determine the cost of its inventory. Gonzaga recorded the following information pertaining to its inventory: Units Units cost Total cost Balance 1/1 160,000 60 9,600,000 Sold on 1/15 140,000 Purchased on 1/31 80,000 90 7,200,000 What amount of inventory should Gonzaga report in its January 31, 2005 balance sheet? O A. PERPETUAL P8,400,000 and PERIODIC P7,000,000 respectively O B. PERPETUAL P7,000,000 and PERIODIC P8,400,000 respectively O C. PERPETUAL P8,400,000 and PERIODIC P7,500,000 respectively O D. PERPETUAL P7,000,000 and PERIODIC P7,500,000 respectively 17 * 2 points 17. Benguet Company's accounting records indicated the following for 2005: Inventory, January 1 P6,000,000 Purchases 20,000,000 Sales 30.000.000 A physical inventory taken on December 31, 2005 resulted in an ending inventory of P4,500,000. The gross profit on sales remained constant at 30% in recent years. Benguet suspects some inventory may have been taken by a new employee. At December 31, 2005 what is the estimated cost of missing inventory? A. P5,000,000 O B. P4,500,000 O C. P500,000 O D. PO