question archive Allapacan Company had the following consignment transactions during 2005: Inventory shipped on consignment to Benguet Company, consignee P600,000 Freight paid by Allapacan 50,000 Inventory received on consignment from Ifugao, consignor 800,000 Freight paid by Ifugao 50,000 No sales of consigned goods were made through December 31, 2005
Allapacan Company had the following consignment transactions during 2005: Inventory shipped on consignment to Benguet Company, consignee P600,000 Freight paid by Allapacan 50,000 Inventory received on consignment from Ifugao, consignor 800,000 Freight paid by Ifugao 50,000 No sales of consigned goods were made through December 31, 2005
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Allapacan Company had the following consignment transactions during 2005:
Inventory shipped on consignment to Benguet Company, consignee P600,000
Freight paid by Allapacan 50,000
Inventory received on consignment from Ifugao, consignor 800,000
Freight paid by Ifugao 50,000
No sales of consigned goods were made through December 31, 2005. In its December 31, 2005 balance sheet, Allapacan should include consigned inventory of?
The answer is 650,000 how was this solved?
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