Nash's Trading Post, LLC took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $30,000 of goods purchased from Swifty Corporation, FOB, shipping point, and $23,500 of goods sold to Marigold Corp. for $30,000, FOB destination. Both the Swifty purchase and the Marigold sale were in transit at year-end.

What amount should Nash report as its December 31 inventory?

Ending Inventory

$       enter the Ending Inventory in dollars

Answer rating: 100% (QA)

Nash Ending Inventoy 261500 taplanation The Ending INentoy t Decomber 31 Ps caleulated a... View the full answer