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8. Excluded from inventory was a carton labelled Please accept for credit. This carton contained merchandise costing $1,900, which had been sold to a customer
8. Excluded from inventory was a carton labelled "Please accept for credit." This carton contained merchandise costing $1,900, which had been sold to a customer for $2,800. No entry had been made to the books to record the return, but none of the returned merchandise seemed damaged. 9. Bramble sold $12,200 of inventory to Simply Corp. for $20,000 on account on December 15,2023 . These items were shipped f.o.b. shipping point. The terms of sale indicate that Simply Corp. will be permitted to return an unlimited amount until May 15, 2024. Bramble has never provided unlimited returns in the past and is not able to estimate the amount of any potential returns that Simply may make. a) Determine the proper inventory balance for Bramble at December 31, 2023. 8. Excluded from inventory was a carton labelled "Please accept for credit." This carton contained merchandise costing $1,900, which had been sold to a customer for $2,800. No entry had been made to the books to record the return, but none of the returned merchandise seemed damaged. 9. Bramble sold $12,200 of inventory to Simply Corp. for $20,000 on account on December 15,2023 . These items were shipped f.o.b. shipping point. The terms of sale indicate that Simply Corp. will be permitted to return an unlimited amount until May 15, 2024. Bramble has never provided unlimited returns in the past and is not able to estimate the amount of any potential returns that Simply may make. a) Determine the proper inventory balance for Bramble at December 31, 2023
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