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Coronado Inc. took a physical inventory at the end of the year and determined that $790000 of goods were on hand. In addition, Coronado determined
Coronado Inc. took a physical inventory at the end of the year and determined that $790000 of goods were on hand. In addition, Coronado determined that $62500 of goods were in transit. The goods were shipped f.o.b. shipping point and were received two days after the inventory count. Coronado also had $87000 of goods out on consignment. What amount should Coronado report as inventory at the end of the year? $867000$790000$939500$877000
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