Question: Instructions Prepare a schedule to determine the correct inventory amount. Provide explanations for each item above, saying why you did or did not make

Instructions Prepare a schedule to determine the correct inventory amount. Provide explanations

Instructions Prepare a schedule to determine the correct inventory amount. Provide explanations for each item above, saying why you did or did not make an adjustment for each item. E6.3 (LO 1), AN Gato Inc. had the following inventory situations to consider at January 31, its year-end. a. Goods held on consignment for Steele Corp. since December 12. b. Goods shipped on consignment to Logan Holdings Inc. on January 5. c. Goods shipped to a customer, FOB destination, on January 29 that are still in transit. d. Goods shipped to a customer, FOB shipping point, on January 29 that are still in transit. e. Goods purchased FOB destination from a supplier on January 25 that are still in transit. f. Goods purchased FOB shipping point from a supplier on January 25 that are still in transit. g. Office supplies on hand at January 31.

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