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A company's Inventory on December 31, 2024, was $343,000 based on a physical count priced at cost, and before any necessary adjustment for the
A company's Inventory on December 31, 2024, was $343,000 based on a physical count priced at cost, and before any necessary adjustment for the following: Inventory costing $48,000, shipped fo.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025 Inventory costing $40,000, shipped fo.b. destination from a vendor on December 28, 2024, was received on January 3, 2025 Inventory costing $56.000 was shipped to a customer fo.b. destination on December 28, arrived at the customer's location on January 6 2025 Inventory costing $30,000 was being held on consignment by Traynor Company. What amount should, the company report as inventory in its December 31, 2024, balance sheet? Multiple Choice $477,000 $421000 $343,000 4
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