will upvote if correct.
are excluded from imventory.) Grouper shipped $8.460 of inventory on consiznment to Chapleau Corporation. By Auzust 31. Chapleau had sold 25% of this inventorytor Grouper. Calculate the revised ending inventory amount. Revised ending inventory amount Grouper Limited is trying to determine the amount of its ending inventory as at August 31, the company's year end. The accountant counted everything in the warehouse in early September, which resulted in an ending inventory amount of $127,100. However the accountant was not sure how to treat the following transactions, so she did not include them in the count. She has asked for your help in determining whether she should or should not include the following items in inventory: 1. Aug: 15 Grouper had $1,630 of inventory isolated in the warehouse. The company isolated the goods because a customer did not want them shipped until September 6. The customer does not own the goods and will pay for them in september. 2. 19 3. 4 23 5. 6. 27 Grouper shipped goods costing \$4,270 FOB destination to a customer. There were no freight charges pertaining to this shipment. The receiving report indicates that the customer received the goods on september 4 . 7. 29 Grouper shipped 58,460 of inventory on consignment to Chapleau Corporation By August 31, Chapleau had sold 25% of this inventory for Grouper. 8. Grouper purchased goods FOB shipping point from a supplier. The inventory cost $1.890. The appropriate Darty paid the freight costs of $94. The supplier shipped the goods on August 29 and Grouper recelved the goods on September 2. Grouper purchased goods FOB destination from a suppller. The inventory cost $2,420. The appropriate party paid the freight costs of $620. The supplier shipped the goods on August 26 and Grouper received the goods on September 3 . Grouper was holding inventory that it sold to a customer on August 23 that needed adjustments before the customer would take possession. The inventory cost $1,350 and the alterations, completed on August 25 , cost $210. The customer plans to pick up the inventory on September 2. Grouper recelved $10.000 of inventory on consignment from Temiskaming Manufacturers Ltd. By August 31. Grouper had not sold any of this inventory. sold 25% of thisinventory for Grouper. Grouper shipped goods FOB shipping point to a customer. The inventory cost $2.790. The appropriate party paid the freight costs of $153. The recelving report indicates that the customer recelved the goods on September 3 . - Your answer is partiallycorrect. For each of the situations, specify whether the accountant should include the item in ending inventory, and if so, at what amount. for each item that is not included in ending inventory, indicate who owns it and what account, if ary, the accountant should record the item in, assuming that the company uses a perpetual inventory system. (Choose No entry frmm the Account column, \& the items are excluded from imveritory.)
