Question
The Super Toy Stores inventory records at December 31, revealed the following: Inventory on hand, December 31 $350,000 Merchandise purchased F.O.B. shipping point, shipped by
The Super Toy Stores inventory records at December 31, revealed the following:
| Inventory on hand, December 31 | $350,000 |
| Merchandise purchased F.O.B. shipping point, shipped by vendor on December 31, expected delivery dateJanuary 4 | 118,000 |
| Merchandise shipped to customers on December 28 F.O.B. destination, expected delivery dateJanuary 3 | 75,000 |
| Goods held on consignment by Super Toy Store, not included in inventory on hand | 38,000 |
What was Super Toy Store's ending inventory at December 31?
Group of answer choices
$350,000
$393,000
$468,000
$543,000
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Financial Accounting Self Study Problems/Solutions Book
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
4th Edition
0471205133, 978-0471205135
