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Coronado Decor did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance
Coronado Decor did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $749,000. However, the following information was not considered when determining that amount. Prepare a schedule to determine the correct inventory amount. (If an amount reduces the account balance then enter with a negative sign preceding the number, es. -15,000, or parenthesis e. 8 . (15,000). Enter o If there is no effect.) Ending inventory-as reported Included in the company s count were goods with a cost of $244,000 that the company is holding on consignment. The goods belong to Kroeger Company. The physical count did not include goods purchased by Coronado with
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