Homework Answers
| Inventory as per physical count | 182000 |
| Add: Goods Purchased FOB Shipping point | 25000 |
| Add: Goods sold FOB Destination | 27000 |
| Ending inventory | 234000 |
Add Answer to:
Concord Corporation took a physical inventory on December 31 and determined that goods costing $182,000 were...
Sheridan Company took a physical inventory on December 31 and determined that goods costing $220,000 were...
Sheridan Company took a physical inventory on December 31 and
determined that goods costing $220,000 were on hand. Not included
in the physical count were $22,000 of goods purchased from Pelzer
Corporation, FOB shipping point, and $19,500 of goods sold to
Alvarez Company for $27,500 FOB destination. Both the Pelzer
purchase and the Alvarez sale were in transit at year-end. What
amount should Sheridan report as its December 31
inventory?
Sheridan ending Inventory
$
Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were...
Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Wildhorse Co., FOB, shipping point, and $24,500 of goods sold to Waterway Industries for $35,000, FOB destination. Both the Wildhorse purchase and the Waterway sale were in transit at year-end. What amount should Sheffield report as its December 31 inventory?
Wildhorse Co. took a physical inventory on December 31 and determined that goods costing $198,500 were...
Wildhorse Co. took a physical inventory on December 31 and determined that goods costing $198,500 were on hand. Not included in the physical count were $25,000 of goods purchased from Waterway Industries, FOB, shipping point, and $26,000 of goods sold to Oriole Company for $30,000, FOB destination. Both the Waterway purchase and the Oriole sale were in transit at year-end. What amount should Wildhorse report as its December 31 inventory? Ending Inventory = _______
Bonita Industries took a physical inventory on December 31 and determined that goods costing $210,000 were...
Bonita Industries took a physical inventory on December 31 and
determined that goods costing $210,000 were on hand. Not included
in the physical count were $24,000 of goods purchased from Metlock,
Inc., FOB, shipping point, and $24,500 of goods sold to Whispering
Winds Corp. for $34,000, FOB destination. Both the Metlock purchase
and the Whispering Winds sale were in transit at year-end.
What amount should Bonita report as its December 31
inventory?
Ending Inventory
$enter Ending Inventory in dollars
Kingbird, Inc. took a physical inventory onDecember 31 and determined that goods costing $230,000 were...
Kingbird, Inc. took a physical inventory on December 31 and determined that goods costing $230,000 were on hand. Not included in the physical count were $31,000 of goods purchased from Blue Spruce Corp., FOB, shipping point, and $20,500 of goods sold to Blossom Company for $30,000, FOB destination. Both the Blue Spruce purchase and the Blossom sale were in transit at year-end. What amount should Kingbird report as its December 31 inventory? Ending Inventory = _______
Crane Company took a physical inventory on December 31 anddetermined that goods costing $180,000 were...
Crane Company took a physical inventory on December 31 and determined that goods costing $180,000 were on hand. Not included in the physical count were $20,000 of goods purchased from Nash's Trading Post, LLC, FOB, shipping point, and $20,000 of goods sold to Swifty Corporation for $30,000, FOB destination. Both the Nash purchase and the Swifty sale were in transit at year-end.What amount should Crane report as its December 31 inventory?Ending Inventory_______
Stallman Company took a physical inventory on December 31 and determined that goods costing $200,000 were...
Stallman Company took a physical inventory on December 31 and determined that goods costing $200,000 were on hand. Not included in the physical count were $25,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $22,000 of goods sold to Alvarez Company for $30,000, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory? Inventory, December 31 _______ In its first month of operations, Bethke Company made...
Windsor Company took a physical inventory on December 31 and determined that goods costing $189,800 were...
Windsor Company took a physical inventory on December 31 and
determined that goods costing $189,800 were on hand. Not included
in the physical count were $26,130 of goods purchased from Pelzer
Corporation, f.o.b. shipping point, and $23,420 of goods sold to
Alvarez Company for $30,660, f.o.b. destination. Both the Pelzer
purchase and the Alvarez sale were in transit at year-end. What
amount should Windsor report as its December 31
inventory?
December 31 inventory
$
Exercise 8-2
In your audit of...
Godchaux Inc. took a physical inventory at December 31, 2019 and determined that €395,000 of goods...
Godchaux Inc. took a physical inventory at December 31, 2019 and determined that €395,000 of goods were on hand. In addition, the following items were not included in the physical count: (1) €60,000 of goods purchased were in transit, shipped f.o.b. destination (goods were received by Godchaux three days on January 3, 2020) and (2) the company shipped f.o.b. destination €25,000 worth of inventory on December 29. The goods arrived at the buyer's place of business on January 2, 2020....
You have the following information for Oriole Company for the month ended October 31, 2022. Oriole uses a periodic method for inventory.
2 You have the following information for Oriole Company for the month ended October 31, 2022. Oriole uses a periodic method for inventory. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit _______ 4 Coronado Industries took a physical inventory on December 31 and determined that goods costing $180,500 were on hand. Not included in the physical count were $27,000 of goods purchased from Sunland Company, FOB, shipping point, and $20,000 of goods sold to Bramble...
Sheridan Company took a physical inventory on December 31 and
determined that goods costing $220,000 were on hand. Not included
in the physical count were $22,000 of goods purchased from Pelzer
Corporation, FOB shipping point, and $19,500 of goods sold to
Alvarez Company for $27,500 FOB destination. Both the Pelzer
purchase and the Alvarez sale were in transit at year-end. What
amount should Sheridan report as its December 31
inventory?
Sheridan ending Inventory
$
Bonita Industries took a physical inventory on December 31 and
determined that goods costing $210,000 were on hand. Not included
in the physical count were $24,000 of goods purchased from Metlock,
Inc., FOB, shipping point, and $24,500 of goods sold to Whispering
Winds Corp. for $34,000, FOB destination. Both the Metlock purchase
and the Whispering Winds sale were in transit at year-end.
What amount should Bonita report as its December 31
inventory?
Ending Inventory
$enter Ending Inventory in dollars
Windsor Company took a physical inventory on December 31 and
determined that goods costing $189,800 were on hand. Not included
in the physical count were $26,130 of goods purchased from Pelzer
Corporation, f.o.b. shipping point, and $23,420 of goods sold to
Alvarez Company for $30,660, f.o.b. destination. Both the Pelzer
purchase and the Alvarez sale were in transit at year-end. What
amount should Windsor report as its December 31
inventory?
December 31 inventory
$
Exercise 8-2
In your audit of...
Godchaux Inc. took a physical inventory at December 31, 2019 and determined that €395,000 of goods were on hand. In addition, the following items were not included in the physical count: (1) €60,000 of goods purchased were in transit, shipped f.o.b. destination (goods were received by Godchaux three days on January 3, 2020) and (2) the company shipped f.o.b. destination €25,000 worth of inventory on December 29. The goods arrived at the buyer's place of business on January 2, 2020....
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