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Assume that the total inventory on hand at the end of the year as determined by taking a physical inventory is $62,000. Of the

Assume that the total inventory on hand at the end of the year as determined by taking a physical inventory

Assume that the total inventory on hand at the end of the year as determined by taking a physical inventory is $62,000. Of the $62,000, $8,000 has been sold FOB destination and is awaiting pickup by the carrier. What is the cost of inventory reported on the balance sheet? a. $54,000 b. $58,000 c. $70,000 Od. $62.000

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