From the following facts, calculate the correct cost of inventory for Bob Company. Cost of inventory on

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From the following facts, calculate the correct cost of inventory for Bob Company.

Cost of inventory on shelf, $4,300, which includes $310 of goods received on consignment.

Goods in transit en route to Bob Company shipped F.O.B. shipping point, $22,200.

Goods in transit en route to Bob shipped F.O.B. destination, $300.

Bob Company has $700 worth of goods on consignment in Alice’s Dress Shop.

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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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Question Posted: Mar 03, 2020 06:45 AM

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From the following facts, calculate the correct cost of inventory for Bob Company. Cost of inventory on

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College Accounting A Practical Approach

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