question 2 chapter 6

1. Bonita Industries just took its physical inventory on December 31. The count of inventory items on hand at the company's business locations resulted in a total inventory cost of $ 325,800. In reviewing the details of the count and related inventory transactions, you have discovered the following items that had not been considered. Bonita has sent inventory costing $ 25,290 on consignment to Richfield Company, All of this inventory was at Richfield's showrooms on December 31. 2. The company did not include in the count inventory (cost, $ 19.130) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31. The company did not include in the count inventory (cost, $ 12.260) that was purchased with terms of FOB shipping point. The goods were in transit on December 31. 3. Compute the correct December 31 inventory Correct December 31 inventory