estion $1$ of $1$

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ent Attempt in Progress

mitri Company, a manufacturer of small tools, provided the following information from its accounting records for the year ended ecember $31,2025.$

$$ventory at December $31,2025($based on physical count of goods in Dimitri's plant, at cost$,$ on December $31,2025)$ $$1,520,000$

ccounts payable at December $31,2025$

$1,200,000$

Jet sales $($sales less sales returns$)$

$8,150,000$

Iditional information is as follows.

Included in the physical count were tools billed to a customer f$.$o$.$b$.$ shipping point on December $31,2025.$ These tools had a cost of $$31,000$ and were billed at $$40,000.$ The shipment was on Dimitri's loading dock waiting to be picked up by the common carrier.

Goods were in transit from a vendor to Dimitri on December $31,2025.$ The invoice cost was $$76,000,$ and the goods were shipped f$.$o$.$b$.$ shipping point on December $29,2025.$

Work in process inventory costing $$30,000$ was sent to an outside processor for plating on December $30,2025.$

Tools returned by customers and held pending inspection in the returned goods area on December $31,2025,$ were not included in the physical count. On January $8,2026,$ the tools costing $$32,000$ were inspected and returned to inventory. Credit memos totaling $$47,000$ were issued to the customers on the same date.

Question $1$ of $1$

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common carrier.

$2.$ Goods were in transit from a vendor to Dimitri on December $31,2025.$ The invoice cost was $$76,000,$ and the goods were shipped f$.$o$.$b$.$ shipping point on December $29,2025.$

$3.$ Work in process inventory costing $$30,000$ was sent to an outside processor for plating on December $30,2025.$

$4.$ Tools returned by customers and held pending inspection in the returned goods area on December $31,2025,$ were not included in the physical count. On January $8,2026,$ the tools costing $$32,000$ were inspected and returned to inventory. Credit memos totaling $$47,000$ were issued to the customers on the same date.

$5.$ Tools shipped to a customer f$.$o$.$b$.$ destination on December $26,2025,$ were in transit at December $31,2025,$ and had a cost of $$26,000.$ Upon notification of receipt by the customer on January $2,2026,$ Dimitri issued a sales invoice for $$42,000.$

$6.$ Goods, with an invoice cost of $$27,000,$ received from a vendor at $5$:$00$ p$.$m$.$ on December $31,2025,$ were recorded on a receiving report dated January $2,2026.$ The goods were not included in the physical count, but the invoice was included in accounts payable at December $31,2025.$

$7.$ Goods received from a vendor on December $26,2025,$ were included in the physicat count. However, the related $$56,000$ vendor invoice was not included in accounts payable at December $31,2025,$ because the accounts payable copy of the receiving report was lost.

$8.$ On January $3,2026,$ a monthly freight bill in the amount of $$8,000$ was received. The bill specifically related to merchandise purchased in December $2025,$ one$-$half of which was still in the inventory at December $31,2025.$ The freight charges were not included in either the inventory or in accounts payable at December $31,2025.$

$($a$2)$ Explain the effect, if any, of each of the eight transactions on the December $31,2025,$ amounts.