Question
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $210,500. The following additional information is also able Plunkett
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $210,500. The following additional information is also able Plunkett sold and shipped goods costing $37100 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not induded in the ending evertory amount of 120500 Plunkett purchased goods costing $43,100 on December 29 The goods were shipped FOB destination and were received by Plunkett on January 2 of the wing yee. The shipment as a n supposed to arrive by December 31. These goods were included in the ending inventory balance of $210,500 Plunkett's ending inventory balance of $210.500 included $14300 of goods being held on consignment from Carole Company (Plunkett Company the consigner) Plunkett's ending inventory balance of $210,500 did not include goods costing $94.300 that were shipped to Puesest on December 27 with shipping terms of 100 destination and se Based on the above information, the amount that Plunkett should report in ending inventory on December 31s
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