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Cullumber Looms Inc. took a physical inventory at the end of the year and determined that $ 9 3 1 0 0 0 of goods
Cullumber Looms Inc. took a physical inventory at the end of the year and determined that $ of goods were on hand between its warehouse and store locations. In addition, the following items were not considered when counting final inventory: $ of goods purchased were in transit. The goods were shipped fob shipping point and were received by the company three days after the inventory count. $ worth of goods that were sold with an explicit repurchase agreement on the inventory. What amount should Cullumber report as inventory at the end of the year?
Cullumber Looms Inc. took a physical inventory at the end of the year and determined that $ of goods were on hand between its warehouse and store locations. In addition, the following items were not considered when counting final inventory:
$ of goods purchased were in transit. The goods were shipped fob shipping point and were received by the company three days after the inventory count.
$ worth of goods that were sold with an explicit repurchase agreement on the inventory.
What amount should Cullumber report as inventory at the end of the year?
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