Question
At December 31, 2022, Windsor, Inc. inventory records indicated a balance of $631000. Upon further investigation it was determined that this amount included the following:
At December 31, 2022, Windsor, Inc. inventory records indicated a balance of $631000. Upon further investigation it was determined that this amount included the following: $126000 in inventory purchases made by Windsor shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2nd $86000 in goods sold by Windsor with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6. $7600 of goods received on consignment from Donna Company What is Windsor's correct ending inventory balance at December 31, 2022? $411400 $497400 $623400 $505000
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