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Your answer is incorrect. Try again. Waterway Company's inventory of $1,177,500 at December 31, 2017, was based on a physical count of goods priced at
Your answer is incorrect. Try again. Waterway Company's inventory of $1,177,500 at December 31, 2017, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items. (a) Goods shipped from a vendor f.o.b. shipping point on December 24, 2017, at an invoice cost of $65,030 to Waterway Company were received on January 4, 2018. (b) The physical count included $28,040 of goods billed to Sakic Corp. f.o.b. shipping point on December 31, 2017. The carrier picked up these goods on January 3, 2018. What amount should Waterway report as inventory on its balance sheet? Inventory to be reported 127057 LINK TO TEXT LINK TO TEXT
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