On December 31, according to the accounting records, the inventory balance is $650,000. The following information was not included when determining that amount. Which of the following should be INCLUDED in the inventory amount on December 31? Select only those that should be included as part of inventory. 0 00 0 Purchased goods costing $74,000 that were shipped to our company, FOB Destination on December 27. They will arrive on January 5. Goods purchased by the company costing $400,000. These were shipped FOB shipping Point on December 28, but did not arrive until January 3. $15,000 of office supplies that were stored in the warehouse. Inventory with a cost of $200,000 that is out on consignment with another company (another company is selling them for us). The company sold goods on December 28 costing $10,000, FOB shipping point. The goods were shipped to the customer on January 1. Goods costing $42,000 that were sold and shipped to a customer on December 27, FOB Destination. They will arrive at the customer's location on January 4.

On December 31, according to the accounting records, the inventory balance is $650,000. The following information was not included when determining that amount. Which of the following should be INCLUDED in the inventory amount on December 31? Select only those that should be included as part of inventory. 0 00 0 Purchased goods costing $74,000 that were shipped to our company, FOB Destination on December 27. They will arrive on January 5. Goods purchased by the company costing $400,000. These were shipped FOB shipping Point on December 28, but did not arrive until January 3. $15,000 of office supplies that were stored in the warehouse. Inventory with a cost of $200,000 that is out on consignment with another company (another company is selling them for us). The company sold goods on December 28 costing $10,000, FOB shipping point. The goods were shipped to the customer on January 1. Goods costing $42,000 that were sold and shipped to a customer on December 27, FOB Destination. They will arrive at the customer's location on January 4.

Name: On December 31, according to the accounting records, the inventory ba
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Description: On December 31, according to the accounting records, the inventory balance is$650,000.The following information was not included when determining that amount.Which of the following should be INCLUDED in the inventory amount on December31? Select onl

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 9PA: On December 31, 2019, the balances of the accounts appearing in the ledger of Wyman Company are as...

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