Barry company counted and reported the ending inventory on Dec. 31, 2021 at P2,000,000. None of the following items were included when the total amount of the ending inventory was computed: a Goods located in warehouse that are consignment from another entity b Goods sold and shipped FOB destination were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022 c Goods sold and shipped FOB shipping point were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022 Inventory on December 31, 2021 is?
Barry company counted and reported the ending inventory on Dec. 31, 2021 at P2,000,000. None of the following items were included when the total amount of the ending inventory was computed: a Goods located in warehouse that are consignment from another entity b Goods sold and shipped FOB destination were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022 c Goods sold and shipped FOB shipping point were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022 Inventory on December 31, 2021 is?
Chapter10: Inventory
Section: Chapter Questions
Problem 13PA: Company Elmira reported the following cost of goods sold but later realized that an error had been...
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Barry company counted and reported the ending inventory on Dec. 31, 2021 at P2,000,000. None of the following items were included when the total amount of the ending inventory was computed:
a Goods located in warehouse that are consignment from another entity
b Goods sold and shipped FOB destination were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022
c Goods sold and shipped FOB shipping point were in transit on Dec. 31, 2021 and received by customer on Jan. 2, 2022 Inventory on December 31, 2021 is?
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