How much of the goods purchased

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Problem - The following are among the transactions of Germany Company during the year: Purchased goods costing P100,000 from Switzerland Inc. Billing was received although delivery was delayed per request of Germany Co. The goods purchased were segregated by Switzerland Inc and ready for delivery on demand. Purchased goods costing P250,000 from Luxembourg Company on lay away sale agreement. The goods were not yet delivered until after Germany Co makes the final payment on the purchase price. Germany made total payments of P120,000 during the year. How much of the goods purchased will be included in Germany's year-end inventory?

Reference no: EM133025034

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