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View Policies Current Attempt in Progress Farley Bains, an auditor with Nolls CPAs, is performing a review of Blue Spruce Corp's Inventory account. Blue
View Policies Current Attempt in Progress Farley Bains, an auditor with Nolls CPAs, is performing a review of Blue Spruce Corp's Inventory account. Blue Spruce Corp. did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $722.410. However, the following information was not considered when determining that amount. Prepare a schedule to determine the correct inventory amount. 1. 2. 3 4. Ending inventory-as reported Included in the company's count were goods with a cost of $244,500 that the company is holding on consignment. The goods belong to Nader Corporation. The physical count did not include goods purchased by Blue Spruce Corp. with a cost of $37.230 that were shipped FOB shipping point on December 28 and did not arrive at Blue Spruce Corp's warehouse until January 3 Included in the Inventory account was $15,330 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31. The shipper
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