Nash's Trading Post, LLC took a physical inventory on December 31 and determined that goods costing $
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Question:
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 |
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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