Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rondo Ltd. (RL) is a wholesaler operation, with an active warehouse. Staff at RL have prepared a preliminary list of inventory, following its count on

image text in transcribed
Rondo Ltd. (RL) is a wholesaler operation, with an active warehouse. Staff at RL have prepared a preliminary list of inventory, following its count on November 30, $420,00 33,600 25,200 65,480 69,000 23,400 a. Goods counted in the physical inventory b. Provincial sales tax on the amount in a. c. Federal GST on the amount in a. d. Goods that arrived from a supplier on December 2, shipped FOB shipping point on November 28. e. Goods that were shipped to a customer on Novenber 28, shipped Foe shipping point. F. Goods that were on consignment with a customer but sold by the customer an 8. Interest cost on goods in a, incurred during lengthy delivery period from supplier. h. Goods that were in RL's warehouse on November 30, about to be shipped back to the supplier because of defects. 1. Cost of operating and heating the warehouse facility fo the year so that goods are available for sale when needed. 1. Cost of freight to ship goods in a, from suppliers to RL, where RL is responsible for freight. k. Cost of freight to ship goods from RL to customers during the year, where RL is responsible for freight. 1, see 25,200 82,800 27, see se, ea Required: Determine the dollar amount of ending inventory Ending inventory B

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Frequently Asked Questions In International Standards On Auditing

Authors: Steven Collings

1st Edition

1118765419, 978-1118765418

More Books

Students also viewed these Accounting questions

Question

Presentations Approaches to Conveying Information

Answered: 1 week ago