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using the perpetual inventory system what correcting entry woud be made for line 4 Crane Company is concerned about thl f Discussions with the company
using the perpetual inventory system what correcting entry woud be made for line
Crane Company is concerned about thl f Discussions with the company accountatot 1. 2. 4. 5. Crane receivedg66dSkosting $50'3 rush order Crane sold goodsCoSting $42,000 to Cus\l' Cbmpap expected to arriVeat CusaunQilhnuarYf21 thegooc/ the warehouse cemibek 2 for $66,300, The goods are not IlycIe4iiT hei physyca [inventory becausethey were not in s $90,900 thl'greSh\ippeHFOBdestinationto Crane on The phySicl countof Che inventory id hotnclude goo December 27 and were sti II in transit yearrend. Crane receivedoodsosting $28,onop, anuary2. h oodS.y ret hippe FOBsh1ppingp01nton December 26 by Noble Co. The goodswerenotincluded in Che physic I count, Crane sold goods costing $39,300 to LimetiC Co,jfor; 56000, ekobflf'heiihipped FOBdestinationon December 30. The goods were received by Limerick inventory, Determine Crane's correct inventory amoun Correct inventory amount
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