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Farley Bina t or with Nolls CPA, is performing a review of Sandhill Co's Inventory account. Sandhill Co. did not have a good year top
Farley Bina t or with Nolls CPA, is performing a review of Sandhill Co's Inventory account. Sandhill Co. did not have a good year top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $735.590 However, the following information was not considered when determining that amount. Prepare a schedule to determine the correct inventory amount. (Show amounts that reduce Inventory with a nepoties ar parentheses parentheses 1451 Ending inventory as reported Included in the company's count were goods with a cost of $237 290 that the company is holding on consignment. The goods belong to Nader Corporation 2 The physical count did not include goods purchased by Sa Co with cost of $42.400 that were shipped FOB shipping point on December 20 and did not arrive at Sandhill Cos warehouse untianuary 3 3 included in the inventory account was $17.000 of office aplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year The company received an order on December 29 that was found and was. sitting on the loading dock awaiting pick up on December 31. The stripper picked up the good on January and delivered them on January. The shipping terms were fol shipping point. The goods tada selling price of 539.010 and cost of $29.090. The goods were not included in the count //
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