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Sunland Company asks you to review its December 3 1 , 2 0 2 5 , inventory values and prepare the necessary adjustments to the
Sunland Company asks you to review its December inventory values and prepare the necessary adjustments to the books. The following information is given to you.
Sunland uses the periodic method of recording inventory. A physical count reveals $ of inventory on hand at December
Not included in the physical count of inventory is $ of merchandise purchased on December from Browser. This merchandise was shipped fob shipping point on December and arrived in January. The invoice arrived and was recorded on December
Included in inventory is merchandise sold to Champy on December fob destination. This merchandise was shipped after it was counted. The invoice was prepared and recorded as a sale on account for $ on December The merchandise cost $ and Champy received it on January
Included in inventory was merchandise received from Dudley on December with an invoice price of $ The merchandise was shipped fob destination. The invoice, which has not yet arrived, has not been recorded.
Not included in inventory is $ of merchandise purchased from Glowser Industries. This merchandise was received on December after the inventory had been counted. The invoice was received and recorded on December
Included in inventory was $ of inventory held by Sunland on consignment from Jackel Industries.
Included in inventory is merchandise sold to Kemp fob shipping point. This merchandise was shipped on December after it was counted. The invoice was prepared and recorded as a sale for $ on December The cost of this merchandise was $ and Kemp received the merchandise on January
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