Tuhdnane Telurned in H is P2,020 EXERCISES 3 The following are the merchandising transactions of the Del Rosario and Sons for the First week of March merchandise from the Blooming Co. on account, P5,000. Freight paid for the above purchase, P50 Bought merchandise for cash, P2,000 Sold merchandise for cashi, P4,000. Cost of merchandise sold, P2.850 Returned merchandise to Blooming Co., P1,000. Sol ld merchandise to L. Rivera and Partners on account, P3,500. Cost of merchandise sold, P2,525. Received returned merchandise from L. Rivera and Partners. A credit memo of P500 was sent to the buyer. (Cost of merchandise returned- P360.) 6 7 Required: 1. Post to the corresponding T accounts the above transactions of the Del Rosario and Sons. (The firm is employing the perpetual inventory system; method 1 and uses individual names of suppliers and customers for its payables and receivables.) How much is the balance of the Merchandise Inventory account as at the end of the week assumin that the merchandise inventory on March 1 is P20,200? How much is the cost of sales of the merchandise sold during the week? 4. If the firm was employing instead Method 2 of the Perpetual Inventory System, how much is the 5. If the firm was employing instead Method 2 of the Perpetual Inventory System, how much is the merchandise sold during the week? merchandise inventory as of the end of the first week of March? pg. 25 Tuhdnane Telurned in H is P2,020 EXERCISES 3 The following are the merchandising transactions of the Del Rosario and Sons for the First week of March merchandise from the Blooming Co. on account, P5,000. Freight paid for the above purchase, P50 Bought merchandise for cash, P2,000 Sold merchandise for cashi, P4,000. Cost of merchandise sold, P2.850 Returned merchandise to Blooming Co., P1,000. Sol ld merchandise to L. Rivera and Partners on account, P3,500. Cost of merchandise sold, P2,525. Received returned merchandise from L. Rivera and Partners. A credit memo of P500 was sent to the buyer. (Cost of merchandise returned- P360.) 6 7 Required: 1. Post to the corresponding T accounts the above transactions of the Del Rosario and Sons. (The firm is employing the perpetual inventory system; method 1 and uses individual names of suppliers and customers for its payables and receivables.) How much is the balance of the Merchandise Inventory account as at the end of the week assumin that the merchandise inventory on March 1 is P20,200? How much is the cost of sales of the merchandise sold during the week? 4. If the firm was employing instead Method 2 of the Perpetual Inventory System, how much is the 5. If the firm was employing instead Method 2 of the Perpetual Inventory System, how much is the merchandise sold during the week? merchandise inventory as of the end of the first week of March? pg. 25