The records of Jamison Company show the following data as of July 31, the end of the fiscal year. Determine the value of the ending merchandise inventory.
a. Cost of goods on hand, based on physical count, $ 225,125.
b. Cost of defective goods (to be thrown away) included in part a, $ 640.
c. Cost of goods shipped out FOB destination on July 30, with an expected delivery date of approximately four days, $ 3,402; not included in part a.
d. Goods purchased July 28, FOB shipping point, delivered to the transportation company on July 31, $ 1,149; not included in part a.
e. Cost of goods sold to a customer on July 30, paid for in full and awaiting shipping instructions, $ 1,873; not included in part a.

  • CreatedOctober 21, 2014
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