rent Attempt in Progress Vindsor Company just took its physical inventory on December 31. The count of inventory items on hand at the company's business cations resulted in a total inventory cost of $390,000. In reviewing the details of the count and related inventory transactions, you have discovered the following items that had not been considered. 1. 2 Windsor has sent inventory costing $36,400 on consignment to Richfield Company. All of this inventory was at Richfield's showrooms on December 31. The company did not include in the count inventory (cost, $26,000) 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 $16,900) 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 eTextbook and Media Attempts: 0 of 3 used Submit Answ Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 2 View Policies Current Attempt in Progress The accounting records of Windsor Electronics show the following data. Beginning inventory 3,900 units at $5 Purchases 9,100 units at $7 Sales 10,970 units at $10 Determine cost of goods sold during the period under a periodic inventory system using (a) the FIFO method, (b) the LIFO method, and (c) the average-cost method. FIFO LIFO Average cost $ Cost of goods sold $ e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 2 Metlock Bank and Trust is considering giving Pohl Company a loan. Before doing so, it decides that further discussions with Pohl's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of 5297.000 Discussions with the accountant reveal the following 1. Pohl shipped goods costing $59.400 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2 3. The physical count of the inventory did not include goods costing $95.000 that were shipped to Pohl FOB destination on December 27 and were still in transit at year-end. Pohl received goods costing $27,000 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count Pohl shipped goods costing $55,080 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Pohl's physical inventory, Pohl received goods costing $45,360 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $297,000. 5. Determine the correct inventory amount on December 31 $ Correct inventory on December 31 e Textbook and Media Attempts: 1 of 3 used Submit Andre Save foc Later Last saved 47 minutes ago