Based on its physical count of inventory in its warehouse at year end, December 31 of the current year, Plummer Company planned to report inventory of $34,100 During the audit, the independent CPA developed the following additional information Goods from a supplier costing $670 are in transit with UPS on December 31 of the current year The terms are FOB shipping point (explained in the Required section) Because these goods had not yet arrived, they were excluded from the physical inventory count Plummer delivered samples costing $1,750 to a customer on December 27 of the current year, with the understanding that they would be returned to Plummer on January 15 of the next year Because these goods were not on hand, they were excluded from the inventory count On December 31 of the current year, goods in transit to customers, with terms FOB shipping point, amounted to $5,700 (expected delivery date January 10 of the next year) Because the goods had been shipped, they were excluded from the physical inventory count On December 31 of the current year, goods in transit to customers, with terms FOB destination, amounted to $1,500 (expected delivery date January 10 of the next year) Because the goods had been shipped, they were excluded from the physical inventory count E7 3 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7 1 Enter the missing dollar amounts for the income statement for each of the following independent cases Sales Beginning Total Ending Cost of Gross Pretax Cases Revenue Inventory Purchases Available Inventory Goods Sold Profit Expenses Income (Loss) A $ 1,800 $ 250 $ 1,600 $ 520 $ 300 B 1,540 120 1,280 280 160 C 170 240 690 310 180 D 990 740 290 120 270 E 1,360 1,020 1,270 650 (20)

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Based on its physical count of inventory in its warehouse at year-end, December 31 of the current year, Plummer Company planned to report inventory of

Based on its physical count of inventory in its warehouse at year-end, December 31 of the current year, Plummer Company planned to report inventory of $34,100. During the audit, the independent CPA developed the following additional information:

Goods from a supplier costing $670 are in transit with UPS on December 31 of the current year. The terms are FOB shipping point (explained in the "Required" section). Because these goods had not yet arrived, they were excluded from the physical inventory count.
Plummer delivered samples costing $1,750 to a customer on December 27 of the current year, with the understanding that they would be returned to Plummer on January 15 of the next year. Because these goods were not on hand, they were excluded from the inventory count.
On December 31 of the current year, goods in transit to customers, with terms FOB shipping point, amounted to $5,700 (expected delivery date January 10 of the next year). Because the goods had been shipped, they were excluded from the physical inventory count.
On December 31 of the current year, goods in transit to customers, with terms FOB destination, amounted to $1,500 (expected delivery date January 10 of the next year). Because the goods had been shipped, they were excluded from the physical inventory count.

E7-3 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the missing dollar amounts for the income statement for each of the following independent cases: Sales Beginning Total Ending Cost of Gross Pretax Cases Revenue Inventory Purchases Available Inventory Goods Sold Profit Expenses Income (Loss) A $ 1,800 $ 250 $ 1,600 $ 520 $ 300 B 1,540 120 1,280 280 160 C 170 240 690 310 180 D 990 740 290 120 270 E 1,360 1,020 1,270 650 (20)