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On December 31 of the current year, Plunkett Company reported an ending inventory balance of $211,500. The following additional information is also avallable: - Plunkett
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $211,500. The following additional information is also avallable: - Plunkett sold and shipped goods costing $37,300 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $211,500. - Plunkett purchased goods costing $43,300 on December 29 . The goods were shipped FOB destination and were recelved by Plunkett on January 2 of the following year. The shipment was a rush order that was supposed to arrive by December 31 . These goods were included in the ending inventory balance of $211,500. - Plunkett's ending inventory balance of $211,500 included $14,300 of goods being held on consignment from Carole Company (Plunkett Company is the consignee.) - Plunkett's ending inventory balance of $211,500 did not include goods costing $94,300 that were shipped to Plunkett on December 27 with shipping terms of FOB destination and were still in transit at year-end. Based on the above information, the amount that Plunkett should report in ending inventory on December 31 is: $191,200 $205.500 $197,200 $168,200 $153,900
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