From the following facts, calculate the correct cost of inventory for Sue Company. Cost of inventory
Question:
From the following facts, calculate the correct cost of inventory for Sue Company.
• Cost of inventory on shelf, $4,500, which includes $280 of goods received on consignment.
• Goods in transit en route to Sue Company shipped F.O.B. shipping point, $22,500.
• Goods in transit en route to Sue shipped F.O.B. destination, $250.
• Sue Company has $675 worth of goods on consignment in Alice’s Dress Shop.
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Related Book For 
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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