FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Company's inventory account has a year-end balance of $2,000. If goods in transit at (H) December 31 include: sales made: FOB shipping point S650, FOB

image text in transcribed
Company's inventory account has a year-end balance of $2,000. If goods in transit at (H) December 31 include: sales made: FOB shipping point S650, FOB destination S700 While purchases made FOB destination 470, FOB shipping point S640. What is the correct inventory Pamount on December 31 a. S3,170 b. S3,120 c. S3,340 d. S3,290

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

Managerial Accounting Wileyplus Blackboard Student Package

Managerial Accounting Wileyplus Blackboard Student Package

Authors: Charles E. Davis, Elizabeth Davis

3rd Edition

1119342511, 978-1119342519

More Books

Students also viewed these Accounting questions

Question

★★★★★
If the probability density of X is given by And Y = X2, find (a) The distribution function of Y; (b) The probability density of Y. 2xeforx0 0 elsewhere f(x) =

Answered: 1 week ago

Question

★★★★★
A portfolio has $200,000 invested in Asset X and $300,000 in Asset Y. Consider the summary measures in the follow ing table. a. Calculate the portfolio weights for assets X and Y. b. Calculate the...

Answered: 1 week ago

Question

★★★★★
Medina Co., Inc. was organized on July 1, 2014. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. Instructions (a) Journalize...

Answered: 1 week ago

Question

★★★★★
Company's inventory account has a year-end balance of $2,000. If goods in transit at (H) December 31 include: sales made: FOB shipping point S650, FOB destination S700 While purchases made FOB...

Answered: 1 week ago

Question

★★★★★
Counting followers may not be sufficient to determine the value of an influencer, since there is a growing problem of fraud, such as when unethical "click farm" service providers offer to sell...

Answered: 1 week ago

Question

★★★★★
What techniques are available or would you suggest for mitigating the loss of customer interaction that results from outsourcing customer-facing functions, such as companies selling products on...

Answered: 1 week ago

Question

★★★★★
1. Compare Costco's current year net income and earnings per share with prior year(s). Were there significant changes that took place? If so, what were they and what was their cause? 2. Analyze...

Answered: 1 week ago

Question

★★★★★
Given the current structure of chosen org., decide whether a redesign would help your organization compete more effectively, or reach its mission and values more successfully OR no change is...

Answered: 1 week ago

Question

★★★★★
1 . Examine which database solution your organization is currently employing. Once this has been determined, interview ( where available ) the decision - maker for employing this application as a...

Answered: 1 week ago

Question

★★★★★
Tom, age 48, is advised by his family physician that he needs back surgery to correct a problem from his last back surgery. Since Tom is in a wheel chair, he needs his wife, Jean, to accompany him on...

Answered: 1 week ago

Question

★★★★★
Classify delivery styles by type.

Answered: 1 week ago

Question

★★★★★
Identify tasks and techniques associated with special presentation situations.

Answered: 1 week ago

Question

★★★★★
Demonstrate the techniques to be used when delivering an effective presentation.

Answered: 1 week ago

Previous Question Next Question