Rondo Ltd. (RL) is a wholesaler operation, with an active warehouse. Staff at RL have prepared a preliminary list of inventory, following its count on November 30.

Required:

Determine the dollar amount of ending inventory.

Transcribed Image Text:

a. Goods counted in the physical inventory $280,000 b. Provincial sales tax on the amount in a. 22,400 c. Federal GST on the amount in a. 16,800 d. Goods that arrived from a supplier on December 2, shipped FOB 43,000 shipping point on November 28 e. Goods that were shipped to a customer on November 28, shipped FOB 51,000 shipping point f. Goods that were on consignment with a customer but sold by the 14,500 customer on December 10. g. Interest cost on goods in a, incurred during lengthy delivery period from supplier 1,600 h. Goods that were in RL's warehouse on November 30, about to be 23,200 shipped back to the supplier because of defects. i. Cost of operating and heating the warehouse facility for the year so that 66,200 goods are available for sale when needed. j. Cost of freight to ship goods in a, from suppliers to RL, where RL is responsible for freight. 27,800 k. Cost of freight to ship goods from RL to customers during the year, where RL is responsible for freight. 44,100