Required: How much is included by ZZZ as part of inventory? Transcribed Image Text: PROBLEM 4: The records of ZZZ Company reveal the following information: A. Goods sold on an

Required: How much is included by ZZZ as part of inventory? Transcribed Image Text: PROBLEM 4: The records of ZZZ Company reveal the following information:
A. Goods sold on an installment basis to Luxembourg, Inc., possession of the goods is
transferred to Hatred, Inc., P750,000.
B. Goods sold to Madrid Company for which ZZZ has signed an agreement to repurchase
the goods 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 ZZZ
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 ZZZ. The goods purchased were segregated and ready for
delivery on demand.
E. Goods purchased from Managua on a lay away sale agreement, P550,000. The goods
were not yet delivered until after ZZZ makes the final payment on the purchase price.
ZZZ made total payments of P50,000 during the year.
4. How much is included by ZZZ as part of inventory?

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