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1. Macy corporation had the following transaction near the end of 2016: Transaction Terms Shipment Date Received Invoice Date Price Purchase Shipping point 12/26/16 01/07/17 150,000 Purchase destination 12/26/16 12/29/16 230,000 Sale shipping point 12/28/16 01/07/17 475,000 Sale destination 12/29/17 01/06/17 110,000 Amount included in the inventory of Macy at December 31, 2016 is? a. 260,000 490,000 C. 625,000 d. 380,000 2. Dalton distributor, Inc. reported inventory of P1,300,000 per physical count of all the goods on hand at December 31,2016. Upon an examination of the records and documents you find the following transactions: . Goods received on January 4, 2017 costing P60,000 were recorded on January 5,2017. The invoice showed shipment was made FOB supplier's warehouse on December 31, 2016. Goods costing P40,000 were received on December 28,2016 and the invoice was not recorded. The accompanying document was marked "on consignment" Goods costing P110,000 were received on January 2,2017 and the related invoice recorded on that date. The invoice showed the shipment was made on December 29, 2016, FOB destination. The correct inventory at December 31, 2016 is? a. 1,430,000 b. 1,260,000 c. 1,320,000 d. 1,360,0003. Bar company purchases motorcycles from various countries and exports them to Europe. Bar company has incurred the following costs during the current year: Cost of purchases based on vendor's invoices 2,000,000 Trade discounts on purchases already deducted from vendors' Invoice 200,000 Import duties 150,000 Freight and insurance on purchases 60,000 Other handling costs relating to imports 40,000 Salaries of accounting department 100,000 Brokerage commission paid to agents for arranging imports 50,000 Sales commission paid to sales agents 80,000 After-sales warranty costs 20,000 The total cost of the purchases is? a. 2,380,000 b. 2,400,000 c. 2,100,000 d. 2,300,000