How much of these invoices must be reported as part of inventory
PROBLEM 10: The purchases journal of YYY Enterprises shows the following invoices: Invoice
Invoice
Date
Number Amount
Date FOB Term
Received
DECEMBER 2021
251 P20,000 23-Dec Destination 24-Dec
252 24,000 23-Dec Destination 29-Dec
253 16,000 26-Dec Shipping point 30-Dec
254 18,000 26-Dec Shipping point 5-Jan
255 27,000 2-Jan Destination 31-Dec
256 21,000 31-Dec Destination 4-Jan
257 2,000 27-Dec Shipping point 21-Dec
258 50,000 8-Jan Shipping point 2-Jan
259 12,000 22-Dec Destination 28-Dec
260 22,000 28-Dec Destination 27-Dec
JANUARY 2022
261 P30,000 28-Dec Destination 4-Jan
262 24,000 29-Dec Destination 28-Dec
263 15,000 30-Dec Shipping point 31-Dec
264 6,500 2-Jan Shipping point 5-Jan
265 8,500 28-Dec Shipping point 4-Jan
266 19,000 30-Dec Destination 6-Jan
- How much of these invoices must be reported as part of inventory?
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