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Based on a physical count of inventory in its warehouse at year-end, Dec. 31,2023, Best Buy planned to report inventory of $157,000. During the audit, the fo - On Dec. 31,2023, goods in transit to customers, with terms FOB destination, amounted to $6,000(expected delivery date was Jan. 4,2024). Because the goc physical inventory count.
On Dec. 31,2023, goods in transit to customers, with terms FOB shipping point, amounted to $7,175. The goods were not expected to be delivered until Jan they were excluded from the physical inventory count.
Goods from a supplier costing $4,300 were in transit with FedEx on Dec. 31,2023. The terms are FOB shipping point. Because these goods had not arrived, Calculate the correct inventory at year-end Dec. 31,2023.
Select one:
a. $170,175
b. $167,300
c. $174,475
d. None of these are correct.
e. $168,475
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