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28. Bill's Farm Supply on-hand year-end (December 31) inventory is $225,000. The following items were in transit: - Merchandise totaling $4,000 shipped by the supplier
28. Bill's Farm Supply on-hand year-end (December 31) inventory is $225,000. The following items were in transit: - Merchandise totaling $4,000 shipped by the supplier FOB destination on December 31 was received by Bill's Farm Supply on January 4. It was not included in the above inventory figure. - Merchandise totaling $3,000 shipped by the supplier FOB shipping point on December 30 was received by Bill's Farm Supply on January 2. It was not included in the above inventory figure.
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