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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

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:
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Determine the total amount that should be included in Chens Chattels year-end inventory.
Cost of merchandise on the showroom floor and in the warehouse $38,400 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 4,600 Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's 3800 receiving dock on July 3 Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5 3,100

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