Ending Inventory Costs

Sandy Chen owns a small specialty store, named Chen's Chattel, whose year-end is June 30. A physical inventory taken on June 30 reveals the following:

Cost of merchandise on the showroom floor and in the warehouse $43,600

Goods held on consignment (consignor is National Manufacturer) $6,400

Goods that Chen's Chattel, as the consignor, has for sale at the location of the Grand Avenue Vista $4,400

Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's receiving dock on July 3 $3, 800

Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5 $4,000

Determine the total amount that should be included in Chen's Chattel's year-end inventory.

1. $