Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bedrock Company reported a December 31 ending inventory balance of $415,000. The following additional information is also available: . The ending inventory balance of $415,000

image text in transcribed
Bedrock Company reported a December 31 ending inventory balance of $415,000. The following additional information is also available: . The ending inventory balance of $415,000 included $73,800 of consigned inventory for which Bedrock was the consignor. The ending inventory balance of $415,000incorrectly included $25,600 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. Based on this information, the correct balance for ending inventory on December 31 is: $415.000 $314,800 $389,400 $340,400 $303,000 5 QUESTION 9 Giorgio had cost of goods sold of $9,565 million, ending inventory of $2,233 million, and average inventory of $2,109 million its inventory tumover equals 4.54 4.30 80.5 days 852 days 0.23

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using QuickBooks Online For Accounting

Authors: Glenn Owen

3rd Edition

0357391691, 9780357391693

More Books

Students also viewed these Accounting questions

Question

Would you be willing to work with them?

Answered: 1 week ago