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As a result of a thorough physical inventory, Bramble Company determined that it had inventory worth $319800 at December 31, 2018. This count did not
As a result of a thorough physical inventory, Bramble Company determined that it had inventory worth $319800 at December 31, 2018. This count did not take into consideration the following facts: Herschel Consignment currently has goods worth $46400 on its sales floor that belong to Bramble but are being sold on consignment by Herschel. The selling price of these goods is $75800. Bramble purchased $21500 of goods that were shipped on December 27, FOB destination, that will be received by Bramble on January 3. Determine the correct amount of inventory that Bramble should report. $386200. $366200. $339800. $319800
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