As a result of a thorough physical inventory, Vaughn Company determined that it had inventory worth...
As a result of a thorough physical inventory, Vaughn Company determined that it had inventory worth $319900 at December 31, 2018. This count did not take into consideration the following facts: Herschel Consignment currently has goods worth $47200 on its sales floor that belong to Vaughn but are being sold on consignment by Herschel. The selling price of these goods is $75500. Vaughn purchased $21700 of goods that were shipped on December 27, FOB destination, that will be received by Vaughn on January 3. Determine the correct amount of inventory that Vaughn should report.
$367100
$319900
$339900
$387100
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As a result of a thorough physical inventory, Vaughn Company determined that it had inventory worth...
As a result of a thorough physical inventory, Greeley Company determined that it had inventory worth $325,000 at December 31, 2020
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