Hero Company's inventory at December 31, 2019 was P7,500.000 based on physical count priced at cost...

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Hero Company's inventory at December 31, 2019 was P7,500.000 based on physical count priced at cost and before any necessary adjustment for the following: Merchandise costing P750,000, shipped FOB shipping point from a vendor on December 30, 2019, was received and recorded on January 5, 2020. Goods in the shipping area were excluded from inventory although shipment was not made until January 4, 2020. The goods, billed to the customer FOB shipping point on December 30, 2019, had a cost of P600,000. 1. What amount should Hero report as inventory in its December 31.2019 balance sheet? c. 8,100,000 d. 8,850,000 a. 7,500,000 b. 7,950,000 Hero Company's inventory at December 31, 2019 was P7,500.000 based on physical count priced at cost and before any necessary adjustment for the following: Merchandise costing P750,000, shipped FOB shipping point from a vendor on December 30, 2019, was received and recorded on January 5, 2020. Goods in the shipping area were excluded from inventory although shipment was not made until January 4, 2020. The goods, billed to the customer FOB shipping point on December 30, 2019, had a cost of P600,000. 1. What amount should Hero report as inventory in its December 31.2019 balance sheet? c. 8,100,000 d. 8,850,000 a. 7,500,000 b. 7,950,000

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Answer c 8100000 Solution Invento... View the full answer