Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve using given information explination not needed At December 31, 2022, Whispering Winds Corp. inventory records indicated a balance of $874000. Upon further investigation it

solve using given information explination not needed
image text in transcribed
At December 31, 2022, Whispering Winds Corp. inventory records indicated a balance of $874000. Upon further investigation it was determined that this amount included the following: -$170000 in inventory purchases made by Whispering shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2nd $107000 in goods sold by Whispering with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6, -$9300 of goods received on consignment from Sandra Company What is Whispering's correct ending inventory balance at December 31, 2022? $694700 $704000 $587700 $864700

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

Modern Internal Auditing Continuing Professional Education CPE Edition

Authors: Robert M. Atkisson, Victor Z. Brink, Herbert N. Witt

1st Edition

0471818828, 978-0471818823

More Books

Students also viewed these Accounting questions

Question

What are the risk and protective factors of obesity?

Answered: 1 week ago

Question

design a simple disciplinary and grievance procedure.

Answered: 1 week ago