Marigold Inc. took a physical inventory at the end of the year and determined that $832000...
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Marigold Inc. took a physical inventory at the end of the year and determined that $832000 of goods were on hand. In addition, the following items were not included in the physical count. Marigold determined that $96500 of goods purchased were in transit. The goods were shipped f.o.b. destination and were received by the company three days after the inventory count. The company had also sold $38000 worth of inventory that was shipped f.o.b. destination and had not been received by the buyer as of year-end. What amount should Marigold report as inventory at the end of the year? Ⓒ$870000 O $928500 $966500 $832000 Marigold Inc. took a physical inventory at the end of the year and determined that $832000 of goods were on hand. In addition, the following items were not included in the physical count. Marigold determined that $96500 of goods purchased were in transit. The goods were shipped f.o.b. destination and were received by the company three days after the inventory count. The company had also sold $38000 worth of inventory that was shipped f.o.b. destination and had not been received by the buyer as of year-end. What amount should Marigold report as inventory at the end of the year? Ⓒ$870000 O $928500 $966500 $832000
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Related Book For
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
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