CALBAYOG COMPANY

1 Cost Retail
Inventory - Beginning Php 408000 Php 768000
Purhases 1800000 8760000
Purhase Returns -180000 -300000
Purhase Allowances -108000
Freight In 150000
Departmental transfer in 160000 200000
Markup 400000
Markup Cancellation -50000
Goods Available for Sale - Conservative 0.2280629986 Php 2230000 Php 9778000
Cost Ratio
Markdown -220000
Markdown Cancellation 30000
Goods Available for Sale - Average 0.2325823947 Php 2230000 Php 9588000
Cost Ratio
Less:
Sales -8000000
Employee Discount -100000
Shrinkage -11680 -8111680
Inventory - Ending at retail Php 1476320

a. Conservative cost Php 336693.966

b. Average cost Php 343366.041

c. Conservative cost Php 336693.966

Physical inventory 95786.4594
Shortage Php 216240.213
 d.
Inventory shortage Php 216240
Allowance for inventory shortage Php 216240

2 SAMAR COMPANY
Cost of Goods Sold

Direct Materials Php 600000

Materials Inventory - Beginning 2500000
Add: Materials Purchases 200000
Transportation In 3300000
Total Available for use 400000
Less: Materials Inventory - Ending 100000 Php 2800000
Purchase Discount 3000000
Direct Labor 1500000
Manufacturing Overhead Php 7300000
Total Manufctuiring Cost 500000
Add: Goods in Process - Beginning Php 7800000
Cost of Goods Sold 200000
Less: Goods in Process - Ending Php 7600000
Cost of Goods Manufactured 700000
Add: Finished Goods - Beginning Php 8300000
Total Goods Available for Sale 300000
Less: Finished Goods - Ending Php 8000000
Cost of Goods Sold
3
 DOROQUEZ, Nill Chris T.
YAKAL COMPANY

Number of Units in the July 1 Inventory

Cost of Units Available for Sale for July Php 1452100

Purchases for July -1042100 1
Cost of Inventory - July 1 410000
Cost Per Unit 4
Number of Unitrs - July 1 102500

July 1 Inventory Php 102000

Purchases for July 200000

Total Units Available for Sale 302000

July 31 Inventory -60000
Units sold during the Month of July Php 242000

Cost of Units Available for Sale Php 1452100

Cost of Goods sold for July -1164100
Inventory - July 31 Php 288000

2
 3

Legend Dairy
1. Amount of Net Gain on Biological Assets
Change in Fair Value due to growth 4
and Price change Php 400000
Milk harvested during the year but
not yet sold 150000
Net Gain Php 550000

2. Amount of Gain on Agricultural Produce

Milk harvested during the year but
not yet sold 150000
Gain on Agriultural Produce Php 150000

3. Carrying amount of Biological Assets

at Year-End

Carrying Amount - January 1 Php 2000000

Change in Fair Value due to growth
and Price change 400000
Milk harvested during the year but
not yet sold 150000
Less: Derease in fair value due to harvest -50000
Carrying Amount - December 31 Php 2500000
 ULTIMATE COMPANY

Physical Inventory Purchases up to Purcheses up to

31-May-15 31-May-15 30-Jun-15
Balance Php 950000 Php 6750000 Php 8000000
a - 75000 -
b - -10000 -15000
c - -20000 -20000
d -55000 -55000 -
Adjusted Php 895000 Php 6740000 Php 7965000

Inventory - July 1, 2014 Php 875000

Purchases up to May 31, 2014 6740000
Goods Available for Sale 7615000
Inventory - May 31, 2015 -895000
Cost of Goods Sold Php 6720000

Sales upto May 31, 2015 Php 8400000

Cost of Goods Sold 6720000
Gross Profit Php 1680000

Gross Profit Rate on Sales 0.2 or 20%

Cost Ratio 80%

Sales for June Php 1200000

Cost of Goods Sold with Profit Php 880000
Cost of Goods sold without Profit 100000
Cost of Goods Sold during June 2015 Php 980000

Invebtory - July 1, 2015 Php 875000

Purchases - June 30, 2015 7965000
Goods Available for Sale 8840000
Less: Cost of Goods Sold
Sales with Profit Php 7600000
Sales without Profit 100000 7700000
Invebtory - June 30, 2016 Php 1140000