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8. Black Company determined its December 31,2022 inventory to be $1,000,000 based on a physical count priced at cost. It then determined the following additional

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8. Black Company determined its December 31,2022 inventory to be $1,000,000 based on a physical count priced at cost. It then determined the following additional information: Merchandise costing $90,000, was shipped FOB shipping point from a vendor on December 30 , 2022. This merchandise was received and recorded by Black Company on January 5, 2023. Goods costing $120,000 were staged on the shipping dock and excluded from inventory although shipment was not made until January 4,2023 . The goods were billed to the customer FOB shipping point on December 30,2022 . What is Black's ending inventory for its December 31,2022 balance sheet? a. $1,000,000 b. $1,090,000 c. $1,120,000 d. $1,210,000 Use the following information for questions 9 and 10 . The following information was available from the inventory records of Rich Company for January: 9. Assuming that Rich does not maintain perpetual inventory records, what should be the inventory at January 31 , using the weighted-average inventory method, rounded to the nearest dollar? a. $15,757. b. $15,356. c. $15,390. d. $15,540. 10. Assuming that Rich maintains perpetual inventory records, what should be the inventory at January 31 , using the moving-average inventory method, rounded to the nearest dollar? a. $15,757. b. $15,356. c. $15,390. d. $15,540

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