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?

Coronado uses LIFO inventory costing. At January 1, 2020, inventory was $427,200 at both cost and market value. At December 31, 2020, the inventory was $543,600 at cost and $511,200 at market value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method and (b) loss method. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) (b)

Please do not provide answer in image formate thank you. Suppose that on October 21, 2019, both Company A and Company B sold inventory with a cost of $61,700. The updated balance of inventory as at October 1 for both companies was $146,900. Company A uses the perpetual inventory system. Company B uses the periodic inventory system and performs an inventory count at the end of each month. What is the value of inventory as at October 21 for each company? Do not enter dollar signs or commas in the input boxes. Company Inventory System Value of Inventory on October 21 A Perpetual $Answer B Periodic $Answer

E6-3

You have been assigned to examine the financial statements of PC corp. for the year ended December 31, 2021, as prepared following IFRS. You discover the following situations: 1. Physical inventory count on Dec 31, 2021, improperly included merchandise costing $3,800 that had been sold but not delivered until Jan 5, 2022. PC uses a periodic inventory system. 2. Depreciation of $1,700 for 2021 on delivery vehicles was not recorded. 3. A collection of $4,600 on account from a customer received on Dec 31, 2021, was not recorded. 4. At the beginning of 2020, the company purchased equipment for $225,000 (residual value $22,500) and had a useful life of 6 years. The accountant used straight-line amortization but failed to deduct the residual value in the calculation of the depreciation for 2020 and 2021. Instructions: Prepare the required journal entries (if any) to correct PC accounts, assuming each transaction is independent and assuming 2021 books are not closed.