73 Question 5 of 6 Current Attempt in Progress Gatineau Bank is considering Bridgeport Corporation a short term bank loan Before doing so, it decides that further discussion with Bridgeport's accountant may be desirable One area of particular concern is the inventory account, which according to a recent pical entory count has a balance of 5310,100 at December 31 This count agreed with the accounting records Discussions with the accountant reveal the following 1 Bridgeport sold goods conting 537 800 to India based Moghul Company FOB destination, on December 28 Bridgeport does not expect the goods to arrive in India and January 12 The goods were not included in the physical inventory count because they were not in the warehouse 2 The shysicat inventory count did not include poods costing $100 200 that a supplier shipped to Bridgeport, Foe shipping point on December 27 and that were still in transit at year end Bridgeportreceived poods contine $25,900 on January 2 The goods were shipped Foe shipping point on December 26 by Cellar Corp The goods were not included in the physical inventory count Bridgeportiold goods costing $44 700 to United Kingdom based Sterling of Britain Ltd, FOB shipping point on December 20 Sterling received the goods on January 8 They were not included in Bridgeport's physical inventory count On December 31 Schiller Corporation had 530,500 of goods held on consignment for Brideport The goods were not Included in the physical inventory count Included in the physical inventory count were $16 300 of parts for outdated products that the company ha not beer to sell It is unlikely that these obsolete parts will have any other use 3 5 6 Sle a) Determine the correct inventory amount on December 31 Record the transactions in the order presented in the problem If an amount reduces the account balance the enter with negative si preceding the numberes 45 or parentheses es (451 If the transaction has NO EFFECT ON INVENTORY ,enter for the amount) Ending inventory physical count $ v 2 3 4 8 Correct inventory hp

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73 Question 5 of 6 Current Attempt in Progress Gatineau Bank is considering Bridgeport Corporation a short term bank loan  Before doing so, it decides that further discussion with Bridgeport's accountant may be desirable One area of particular concern is the inventory account, which according to a recent pical entory count has a balance of 5310,100 at December 31  This count agreed with the accounting records Discussions with the accountant reveal the following 1 Bridgeport sold goods conting 537 800 to India based Moghul Company FOB destination, on December 28  Bridgeport does not expect the goods to arrive in India and January 12  The goods were not included in the physical inventory count  because they were not in the warehouse 2 The shysicat inventory count did not include poods costing $100 200 that a supplier shipped to Bridgeport, Foe shipping point on December 27 and that were still in transit at year end Bridgeportreceived poods contine $25,900 on January 2  The goods were shipped Foe shipping point on December 26 by Cellar Corp  The goods were not included in the physical inventory count Bridgeportiold goods costing $44 700 to United Kingdom based Sterling of Britain Ltd, FOB shipping point on December 20 Sterling received the goods on January 8  They were not included in Bridgeport's physical inventory count  On December 31 Schiller Corporation had 530,500 of goods held on consignment for Brideport  The goods were not Included in the physical inventory count  Included in the physical inventory count were $16 300 of parts for outdated products that the company ha  not beer to sell  It is unlikely that these obsolete parts will have any other use  3 5 6  Sle a) Determine the correct inventory amount on December 31  Record the transactions in the order presented in the problem  If an amount reduces the account balance the enter with negative si preceding the numberes 45 or parentheses es (451  If the transaction has  NO EFFECT ON INVENTORY ,enter for the amount) Ending inventory physical count $ v 2 3 4 8 Correct inventory hp

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-73 Question 5 of 6 Current Attempt in Progress Gatineau Bank is considering Bridgeport Corporation a short term bank loan. Before doing so, it decides

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