Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the end of the current period, Emmalooks over her inventory and finds that she has1,100 units (products) in her basement, 24 of which were damaged by water and cannot be sold.• 110 units in her van, ready to deliver per a customer order, terms FOB destination.• 200 units out on consignment to a friend who owns a retail store.How many total units should Emma include in her company's period-end inventory?Units in Ending Inventory:Units stored in basement1,100 unitsAdd:Less:Total units in period-end inventoryunits

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Description: Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the end of the current period, Emmalooks over her inventory and finds that she has1,100 units (products) in her basement, 24 of which were damaged by wate

1. In case FOB destination, seller is the owner till it reaches the buyer. So, this is part of year…

Answered: How many total units should Emma…

Business

Accounting

How many total units should Emma include in her company's period-end inventory?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6Q: Ekon owns a small tow-truck business that responds to state patrol requests to tow cars involved in...

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Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn’s house. At the end of the current period, Emma looks over her inventory and finds that she has ∙ 1,300 units (products) in her basement, 20 of which were damaged by water and cannot be sold. ∙ 350 units in her van, ready to deliver per a customer order, terms FOB destination. ∙ 80 units out on consignment to a friend who owns a retail store. How many units should Emma include in her company’s period-end inventory?
A master carver of wooden birds operates her business out of a garage. At the end of the current period,the carver has 17 units (carvings) in her garage, 3 of which were damaged by water and cannot be sold.She also has another 5 units in her truck, ready to deliver per a customer order, terms FOB destination,and another 11 units out on consignment at retail stores. How many units does she include in the business’speriod-end inventory?
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