Theta Inc. counted and reported the ending inventory on December 31, 2019 at P 2,000,000. None of the following items were included when the total amount of the ending inventory was computed: Goods located in Theta's warehouse that are on consignment from another entity... .P 150,000 Goods sold by Theta and shipped on December 30, 2019 under terms FOB destination point and were in transit as of December 31, 2019 and received by the customer on January 2, 2020... 200,000 Goods purchased by Theta and shipped on December 30, 2019 under FOB shipping point and were in transit on December 31, 2019 and was received by Theta on January 2, 2020... 300,000 Goods sold by Theta and shipped on December 30, under terms FOB shipping point and were in transit on December 31, 2020 and received by the customer on January 2, 2020.... 400,000 What is the correct amount of inventory on December 31, 2019?

Theta Inc. counted and reported the ending inventory on December 31, 2019 at P 2,000,000. None of the following items were included when the total amount of the ending inventory was computed: Goods located in Theta's warehouse that are on consignment from another entity... .P 150,000 Goods sold by Theta and shipped on December 30, 2019 under terms FOB destination point and were in transit as of December 31, 2019 and received by the customer on January 2, 2020... 200,000 Goods purchased by Theta and shipped on December 30, 2019 under FOB shipping point and were in transit on December 31, 2019 and was received by Theta on January 2, 2020... 300,000 Goods sold by Theta and shipped on December 30, under terms FOB shipping point and were in transit on December 31, 2020 and received by the customer on January 2, 2020.... 400,000 What is the correct amount of inventory on December 31, 2019?

Name: Theta Inc. counted and reported the ending inventory on December 31,
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Theta Inc. counted and reported the ending inventory on December 31, 2019 at P 2,000,000.None of the following items were included when the total amount of the ending inventory wascomputed:Goods located in Theta's warehouse that are on consignmentfr

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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