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10) A company inventory account on December 31, 2021 includes the following: Merchandise shipped to a consignee for sale $20,000 Goods purchased in transit (FOB
10) A company inventory account on December 31, 2021 includes the following: Merchandise shipped to a consignee for sale $20,000 Goods purchased in transit (FOB shipping point) 12,000 Goods received by Teresa's Company for consignment 10,000 Goods Sold and Shipped to Customer (FOB Destination) 7,600 Using the information, determine how much to reduce the inventory on December 31, 2022: a. $32,600 b. $32,000. c. $17,600. d. $19,200
10) A company inventory account on December 31, 2021 includes the following:
Merchandise shipped to a consignee for sale $20,000
Goods purchased in transit (FOB shipping point) 12,000
Goods received by Teresa's Company for consignment 10,000
Goods Sold and Shipped to Customer (FOB Destination) 7,600
Using the information, determine how much to reduce the inventory on December 31, 2022: a. $32,600
b. $32,000. c. $17,600. d. $19,200
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