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NEED HELP!! The Kwik Company's inventory balance on December 31, 2024, was $235,000 (based on a 12/31/2024 physical count) before considering the following tronsactions: 1.
NEED HELP!! The Kwik Company's inventory balance on December 31, 2024, was $235,000 (based on a 12/31/2024 physical count) before considering the following tronsactions: 1. Goods shipped to Kwik fo, b. destination on December 20, 2024, were recelved on January 4, 2025. The invoice cost was $44.000 2 Goods shipped to Kwik to.b, shipping point on December 28, 2024, were recelved on January 5, 2025. The involce cost wos $31,000. 3. Goods shipped from Kwik to a customer fo. b. destination on December 27, 2024, were recelved by the customer on January 3 , 2025. The soles price wos' $54,000 ond the inventory cost $36,000 4. Goods shipped from Kwik to a customer fo.b. destinotion on December 26, 2024, were received by the customer on December 30. 2024 The sales price was $34,000 and the inventory cost $27,000 5 Goods shipped from Kwik to o customer fo b. shipping point on December 28, 2024, were recelved by the customer on January 4. 2025. The sales price was $39,000 and the inventory cost $26,000. Required: Determine the correct inventory amount to be reported in Kwik's 2024 bolance sheet
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