Question: 41. ABC Co. counted and reported the ending inventory on Dec 31, 2021 at P2,800,000. 285,000 310,000 The following items were not yet included when

41. ABC Co. counted and reported the ending inventory on Dec

41. ABC Co. counted and reported the ending inventory on Dec 31, 2021 at P2,800,000.

285,000 310,000 The following items were not yet included when the total amount of the ending inventory was computed: Goods located in the entity's warehouse that are on consignment from another entity Goods sold by the entity and shipped FOB destination was in transit on Dec 31, 2021 and received by the customer on Jan 2, 2022 Goods purchased by the entity and shipped FOB seller were in transit on Dec 31, 2021 and received by the entity on Jan 2, 2022 Goods sold by the entity and shipped FOB shipping point were in transit on Dec 31, 2021 and received by the customer on Jan 2, 2022 What is the correct amount of inventory on Dec 31, 2021? 440,000 550,000

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