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Marigold Inc. took a physical inventory at the end of the year and determined that $837000 of goods were on hand. In addition, the following
Marigold Inc. took a physical inventory at the end of the year and determined that $837000 of goods were on hand. In addition, the following items were not included in the physical count. Marigold, Inc. determined that $95500 of goods purchased were in transit that were shipped f.o.b. destination (goods were actually received by the company three days after the inventory count).The company sold $41000 worth of inventory f.o.b. destination. What amount should Marigold report as inventory at the end of the year?
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