Required (2points each) (Answer& Solution): "answer the yellow highlighted numbers"

The inventory control account balance of Magic Fashions at June 30, 2020 was P221,020 using the perpetual inventory system. A physical count conducted on that day found inventory on hand worth P212,820. Net realizable value for each inventory item held for sale exceeded cost. An investigation of the discrepancy revealed the following: Goods worth P66,000 held on consignment for Jazz Accessories had been included in the physical count. Goods costing P12,000 were purchased on credit from Suns Ltd on June 27, 2020 on FOB shipping terms. The goods were shipped on June 28, 2020, as they had not arrived by June 30, 2020, were not included in the physical count. The purchase invoice was received and processed on June 30,2020. Goods costing P24,000 were sold on credit to Trail Blazers for P39,000 on June 28, 2020 on FOB destination terms. The goods were still in transit on June 30, 2020. The sales invoice was raised and processed on June 29, 2020. Goods costing P27,300 was purchased on credit (FOB destination) from wizards Handbags on June 28, 2020. The goods were received on June 29, 2020 and included in the physical count. The purchase invoice was received on July 2, 2020. On June 30, 2020, Magic Fashions sold goods costing P63,000 on credit (FOB shipping point) to Hawks Boutique for P96,000. The goods were dispatched from the warehouse on June 30, 2020 but sales invoice had not been raised at that date. Damaged inventory items valued at P26,500 was discovered during the physical count. These items were still recorded on June 30, 2020 but were omitted from the physical count records pending their write off. REQUIRED (2 points each): Reconcile the inventory per count with the inventory control count using the schedule of adjustments shown below. General Physical ledger count Unadjusted balances 221,020 212,820 Adjustments increase (decrease): Goods held on consignment 2.) Goods purchased FOB shipping point, in transit 3.) Goods shipped out FOB destination, in transit 4.) 5.) Goods purchased and received, but not yet recorded 6.) Goods sold, still unrecorded 7.) Unsalable goods 8.) Balance er audit ED 10