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Based on a physical count of inventory in its warehouse at year-end, Dec 31,2023 , Best Buy planned to report inventory of $112,000, During the
Based on a physical count of inventory in its warehouse at year-end, Dec 31,2023 , Best Buy planned to report inventory of $112,000, During the audit, the following information was discovered - On Dec. 31, 2023. goods in transit to customers, with terms FOB destination, amounted to $4,300 (expected delivery date was Jan. 4, 2024). Because the goodshad been shipped, they were exduded from the physical inventory count. - On Dec. 31. 2023, goods in transit to customers, with terms FOB shipping point, amounted to $5,125. The goods were not expected to be delivered until Jan. 11, 2024, and because the goods had been shipped, they were excluded from the physical inventory count. - Goods from a supplier costing $3,100 were in transit with FedEx on Dec. 31, 2023. The terms are FOB shipping point. Because these goods had not. arrived, they were exeluded fram the physical count. Catculate the correct inventory at yeac-end Dec 31,2023. $124.525 $121.425 $119,400 $120,225 None of the above
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