Fill In the blanks: ABC Company whose operation started in 2019 has the following information: 2019 2020 2021 Net income, FIFO 300,000 320,000 290,000 Cost of sales, Weighted average 800,000 840,000 820,000 The ending inventories are as follow. FIFO 20,000 22,000 25,000 Weighted average 15,000 17,000 15,500 Moving average 18,000 17,500 18,500 Compute the following: Net income 2019 2020 2021 Weighted average Moving average 2019 2020 2021 Weighted Moving3 Points Fill in the blanks: The records of Summit Company revealed the following on November 18, 2016: Inventory, Jan. 1 P100,000 Purchases, Jan. 1 to Nov. 18 1, 114,000 Sales, Jan. 1 to Nov. 18 1, 150,000 Purchase returns 40,000 A fire destroyed the inventory on November 18, 2016. The purchases include goods in transit purchased FOB shipping point and recorded at P20,000. The sales includes goods in transit sold FOB destination and recorded at P50,000. The cost of these goods is P35,000. The company maintains a gross profit rate that is the same for all goods sold. Required: Compute the inventory fire loss - PFill in the blanks: Green Company provided the following date for the current year: Inventory Inventory at cost at NRV December 31, 2014 P300,000 P270,000 December 31, 2015 400,000 380,000 December 31, 2016 480,000 435,000 2015 Net purchases P850,000 2016 Net purchases P790,000 Required: (a) Compute for the cost of goods sold to be reported in the statement of income and expense in the following years: 2015 P 2016 P 2015: 2016:Fill in the blanks: A major portion of Avery Coporation's inventory was stolen on the night of August 31, 2016. A physical count the next day revealed that goods costing 130,000 was still on hand. Your examination of the company's records revealed the following: Inventory, Jan. 1 P575,000 Transactions from Jan. 1 to Aug. 31 Purchases 1,880,000 Purchase returns 70,000 Transportation in 160,000 Sales 3,415,000 Sales returns 200,000 The company began operations early in 2015 and its Statement of Income for the year shows the following: Net sales P2,950,000 Cost of goods sold 1,770,000 Selling expenses 242,000 Administrative expenses 436,500 Net income 501,500 Required: Compute for the cost of stolen inventory - P Continu