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AL Company included the following items in inventory: laterials 1,400,000 dvances for materials ordered 200,000 Foods in process nexpired insurance on inventory dvertising catalogs and shipping cartons 150,000 inished goods in factory inished goods in entity-owned retail store, including 50% profit inished goods in hands of consignee including 40% profit on sal inished goods in transit to customers, shipped FOB destination a inished goods out on approval, at cost inished goods held by salesmen, at selling price (cost P 100,000 nsalable finished goods, at cost office supplies 650,000 60,000 2,000,000 100,000 50,000 40,000

AL Company included the following items in inventory: laterials 1,400,000 dvances for materials ordered 200,000 Foods in process nexpired insurance on inventory dvertising catalogs and shipping cartons 150,000 inished goods in factory inished goods in entity-owned retail store, including 50% profit inished goods in hands of consignee including 40% profit on sal inished goods in transit to customers, shipped FOB destination a inished goods out on approval, at cost inished goods held by salesmen, at selling price (cost P 100,000 nsalable finished goods, at cost office supplies 650,000 60,000 2,000,000 100,000 50,000 40,000

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...
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AL Company included the following items in inventory: Materials 1,400,000 Advances for materials ordered 200,000 Goods in process Unexpired insurance on inventory Advertising catal ogs and shipping cartons Finished goods in factory Finished goods in entity-owned retail store, including 50% profit on cost 750,000 Finished goods in hands of consignee including 40% profit on sales Finished goods in transit to customers, shipped FOB destination at cost Finished goods out on approval, at cost Finished goods held by salesmen, at selling price (cost P 100,000) 140,000 Unsalable finished goods, at cost Office supplies Materials in transit, shipped FOB shipping point, excluding freight of P 30,000 Gasoline and oil for testing finished goods 110,000 650,000 60,000 150,000 2,000,000 400,000 250,000 100,000 50,000 40,000 330,000 Machine lubricants 60,000 REQUIRED: compute the correct amount of inventory.
Transcribed Image Text:AL Company included the following items in inventory: Materials 1,400,000 Advances for materials ordered 200,000 Goods in process Unexpired insurance on inventory Advertising catal ogs and shipping cartons Finished goods in factory Finished goods in entity-owned retail store, including 50% profit on cost 750,000 Finished goods in hands of consignee including 40% profit on sales Finished goods in transit to customers, shipped FOB destination at cost Finished goods out on approval, at cost Finished goods held by salesmen, at selling price (cost P 100,000) 140,000 Unsalable finished goods, at cost Office supplies Materials in transit, shipped FOB shipping point, excluding freight of P 30,000 Gasoline and oil for testing finished goods 110,000 650,000 60,000 150,000 2,000,000 400,000 250,000 100,000 50,000 40,000 330,000 Machine lubricants 60,000 REQUIRED: compute the correct amount of inventory.
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