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please, show work and don't copy from the previous answer. it was wrong. T hank you. Vogts Company sells TVs. The perpetual inventory was stated
please, show work and don't copy from the previous answer. it was wrong. Thank you.
Vogts Company sells TVs. The perpetual inventory was stated as $33,500 on the books at December 31, 2012. At the close of the year, a new approach for compiling inventory was used and apparently a satisfactory cut-off for preparation of financial statements was not made. Somc events that occurred are as follows, 1. TVs shipped to a customer January 2, 2013, costing $5,000 were included in inventory at December 31, 2012. The sale was recorded in 2013. 2. TVs costing $12,000 received December 30, 2012, were recorded as received on January 2, 2013 3. TVs received during 2012 costing $4,600 were recorded twice in the inventory account. 4. TVs shipped to a customer December 28, 2012, no.b, shipping point, which cost $8,000, were not received by the customer until January, 2013. The TVs were included in the ending inventory 5. TVs on hand that cost $6,100 were never recorded on the books. Instructions Compute the correct inventory at December 31, 2012. Show transcribed image textStep by Step Solution
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