Reference no: EM132882886
The records of Zena Company reveal the following information:
A. Goods sold on an installment basis to Luxembourg, Inc., possession of the goods ist transferredto Hatred, Inc., P750,000.
B. Goods sold to Madrid Company for which Zena has signed an agreement to repurchaset thegoods sold at a set price that covers all costs related to the inventory, P680,000.
C. Goods received from YYY Company for which an agreement was signed requiring Zena to replace such goods in the near future, P580,000.
D. Goods purchased from Male, Inc., P430,000. Billing was received although delivery was delayed per request of Zena. The goods purchased were segregated and ready ford deliveryon demand.
E. Goods purchased from Managua on a lay away sale agreement, P550,000. The goods were not yet delivered until after Zena makes the final payment on the purchase price. Zena made total payments of P50,000 during the year.
Problem 1: How much is included by Zena as part of inventory?
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