Question
PLEASE ANSWER ASAP !!! THANK YOU The Queen Supply Co. counted and valued its inventory at year-end, and found $41850 worth. However, their accounting system
PLEASE ANSWER ASAP !!! THANK YOU
The Queen Supply Co. counted and valued its inventory at year-end, and found $41850 worth. However, their accounting system showed that there were two purchases that had not yet arrived. One had been shipped FOB destination, for $3155, and the other had been shipped FOB shipping point, for $5840. In addition, two sales made on the last day of the year would not have reached the customers. One, for $4375, was shipped FOB destination, and the other, for $2765, was shipped FOB shipping point.
What is the company's correct inventory value?
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
