Question
At December 31, 2022, Nash's Trading Post, LLC inventory records indicated a balance of $620000. Upon further investigation it was determined that this amount
At December 31, 2022, Nash's Trading Post, LLC inventory records indicated a balance of $620000. Upon further investigation it was determined that this amount included the following: $106000 in inventory purchases made by Nash's shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2nd $62000 in goods sold by Nash's with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6. - $4000 of goods received on consignment from Mary Company What is Nash's's correct ending inventory balance at December 31, 2022? $448000 $510000 $514000 $616000
Step by Step Solution
3.41 Rating (151 Votes )
There are 3 Steps involved in it
Step: 1
AN8WER Correcl balance 510000 Particulars Amount Ending inventory befose adjuslmentls 6200...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App