A company has the following information related to its ending inventory: inventory on shelves: $20,000 goods out on consignment: $50,000 goods purchased and in transit
A company has the following information related to its ending inventory:
inventory on shelves: $20,000
goods out on consignment: $50,000
goods purchased and in transit free on board (FOB) shipping point: $10,000
goods sold and in transit free on board (FOB) shipping point: $5,000
Which amount should be included as the final inventory value for the company?
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Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
