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As the accounting consultant for Clark Company, a merchandising company, you have been asked to assist management in determining the proper accounting for items related
As the accounting consultant for Clark Company, a merchandising company, you have been asked to assist management in determining the proper accounting for items related to merchandise inventory. Required: For each of the following four items, determine whether or not each would be included in the cost of ending merchandise inventory. Included Not Included Freight-In O Freight Out (Delivery expense) Cost of goods in transit, purchased, terms: FOB Destination o Cost of painting the warehouse O O
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