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Carla Vista Limited is trying to determine the value of its ending inventory as of February 2 8 , 2 0 2 7 , the
Carla Vista Limited is trying to determine the value of its ending inventory as of February the company's yearend. The
accountant counted everything that was in the warehouse as of February which resulted in an ending imventory valuation of
$ However, she didn't know how to treat the following transactions so she didn't record them.
For each of the below transactions, specify whether the item in question should be included in ending inventory, and if so at what
amount. For each item that is not included in ending inventory, indicate who owns it and what account, if any, it should have been
recorded in
a On February Carla Vista shipped to a customer goods costing $ The goods were shipped FOB shipping point,
and the receiving report indicates that the customer received the goods on March
b On February Sandhill Inc. shipped goods to Carla Vista FOB destination. The imvoice price was $ plus $ for
freight. The receiving report indicates that the goods were received by Carla Vista on March
c Carla Vista had $ of inventory at a customer's warehouse on approval." The customer was going to let Carla
Vista know whether it wanted the merchandise by the end of the week, March
d Carla Vista also had $ of inventory at a Wildhorse craft shop, on consignment from Carla Vista.
e On February Carla Vista ordered goods costing $ The goods were shipped FOB shipping point on February
Carla Vista received the goods on March
f On February Carla Vista packaged goods and had them ready for shipping to a customer FOB destination. The
invoice price was $ plus $ for freight; the cost of the items was $ The receiving report indicates that the
goods were received by the customer on March
g Carla Vista had damaged goods set aside in the warehouse because they are no longer saleable. These goods
originally cost $ and, originally, Carla Vista expected to sell these items for $Carla Vista Limited is trying to determine the value of its ending imventory as of February the company's yearend. The
accountant counted everything that was in the warehouse as of February which resulted in an ending inventory valuation of
$ However, she didn't know how to treat the following transactions so she didn't record them.
For each of the below transactions, specify whether the item in question should be included in ending inventory, and if so at what
amount. For each item that is not included in ending inventory, indicate who owns it and what account, if any, it should have been
recorded in
$
$
$
$
$
$
$
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