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What allapacan should include consigned inventory of

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Reference no: EM132770549

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

Problem 1: No sales of consigned goods were made through December 31, 2005. In its December 31, 2005 balance sheet, Allapacan should include consigned inventory of?

Reference no: EM132770549

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