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On December 31, 20x1, Margo's Marigolds Company in Savannah, Georgia reported an ending inventory balance of $214,000. The following additional information is also available: .
On December 31, 20x1, Margo's Marigolds Company in Savannah, Georgia reported an ending inventory balance of $214,000. The following additional information is also available: . Margo's Marigolds Company's ending inventory balance of $214,000 Included $14,800 of goods being held on consignment from Peter's Petunia Company (Margo's Marigolds Company is the consignee) Margo's Marigolds Company sold and shipped goods costing $37,800 to Kate's Krispy Kreme franchise in Atlanta, Georgia on December 28, 20x1 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $ 214,000 Margo's Marigolds Company's ending inventory balance of $214,000 did not include goods costing $94,800 thot were shipped to Margo's Marigolds Company on December 27, 20x1 with shipping terms of FOB destination and were still in transit at year-end. Margos Marigolds Company purchased goods costing $43,800 on December 29, 20x1. The goods were shipped FOB destination and were received by Margo's Marigolds Company on January 2, 20x2. The shipment was a rush order to their Savannah, Georgia warehouse that was supposed to arrive by December 31, 20x1. These goods were included in the ending inventory balance of $214,000 The amount that Margo's Marigolds Company should report in ending inventory on December 31, 20x1 based on the above information is
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