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A physical inventory count determined inventory to be $420,000. Two items of information were revealed: (1) $40,000 of goods that had been sent to
A physical inventory count determined inventory to be $420,000. Two items of information were revealed: (1) $40,000 of goods that had been sent to a consignee that had NOT been counted and (2) $20,000 of purchased goods in transit (FOB Destination) were NOT included in the count. What is the correct inventory count?
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The correct inventory count would be 420000 phy...
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
