Lure Company included the following tems under invertory: Materials Advance for materials ordered Goods in Process...

 

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Lure Company included the following tems under invertory: Materials Advance for materials ordered Goods in Process Unexpired insurance on Invertory Advertising catalogs and shipping cartons Finished goods infactory Finished goods inertty-owned retail store, including 50% proft oncos Finished goods in hands of consignees including 40% proft on sales Finished goods intransit to customers, shipped FOB destination at cost Finished goods ou on approval, at cost Office Supplies Materials in transit, shipped FOB shipping point, excluding freight of 30,000 Goods held on consignment, at sales price, cost 150,000 1,200,000 200,000 650,000 60,000 150,000 2,000,000 750,000 A. 5,050,000 B. C. 5,200,000 D. 5.240.000 400,000 250,000 100,000 40,000 330,000 200,000 What amount should Marker Company report as value of its invertory in ts 2018 statement of financial position? 5,175,000 Lure Company included the following tems under invertory: Materials Advance for materials ordered Goods in Process Unexpired insurance on Invertory Advertising catalogs and shipping cartons Finished goods infactory Finished goods inertty-owned retail store, including 50% proft oncos Finished goods in hands of consignees including 40% proft on sales Finished goods intransit to customers, shipped FOB destination at cost Finished goods ou on approval, at cost Office Supplies Materials in transit, shipped FOB shipping point, excluding freight of 30,000 Goods held on consignment, at sales price, cost 150,000 1,200,000 200,000 650,000 60,000 150,000 2,000,000 750,000 A. 5,050,000 B. C. 5,200,000 D. 5.240.000 400,000 250,000 100,000 40,000 330,000 200,000 What amount should Marker Company report as value of its invertory in ts 2018 statement of financial position? 5,175,000

Answer rating: 100% (QA)

Value of inventory Materials inventory P1200000 Goods in process inventory 650000 Finished goods in factory 2000000 Finished goods in retail store 500... View the full answer