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On December 3 1 , Barnes Company had an ending inventory of $ 6 3 , 0 0 0 based primarily on a physical count
On December Barnes Company had an ending inventory of $ based primarily on a physical count at its warehouse. In computing the final balance of Inventory, the following information was available: a Inventory items with a cost of $ were included in ending inventory. These goods were on consignment from Hayes Company and had not yet been sold on December b Inventory items with a cost of $ were excluded from ending inventory. These goods were in transit from Barnes Company to Rivera Company and were sold FOB shipping point. c Inventory items with a cost of $ were included in ending inventory. These goods were in transit from Hall Company to Barnes Company and were purchased FOB destination. Required: Using the information given above, compute the correct final balance of Inventory. Correct ending inventory balance:
On December Barnes Company had an ending inventory of $ based primarily on a physical count at its warehouse. In computing the final balance of Inventory, the following information was available:
a Inventory items with a cost of $ were included in ending inventory. These goods were on consignment from Hayes Company and had not yet been sold on December
b Inventory items with a cost of $ were excluded from ending inventory. These goods were in transit from Barnes Company to Rivera Company and were sold FOB shipping point.
c Inventory items with a cost of $ were included in ending inventory. These goods were in transit from Hall Company to Barnes Company and were purchased FOB destination.
Required:
Using the information given above, compute the correct final balance of Inventory.
Correct ending inventory balance:
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