Question: Please answer problem #10, SHOWING ALL WORK ACCORDINGLY FOR ALL PARTS. Thank you! Marigold Corp. is trying to determine the value of its ending inventory

Please answer problem #10, SHOWING ALL WORK ACCORDINGLY FOR ALL PARTS. Thank you!
Please answer problem #10, SHOWING ALL WORK ACCORDINGLY FOR ALL PARTS. Thank

Marigold Corp. is trying to determine the value of its ending inventory as of February 28, 2022, the company's year-end. The accountant counted everything that was in the warehouse as of February 28, which resulted in an ending inventory valuation of 46.000. However, she didn't know how to treat the following transactions so she didn't record them (21) For each of the transactions below, specify whether the itern in question should be included in ending inventory, and if so, what amount. (If item is not included in the ending inventory, then enter for the amounts) (a) On February 26, Marigold shipped to a customer goods costing $ 640. The goods were shipped FOB shipping point, and the receiving report indicates that the customer received the goods on March 2 v $ (b) > S On February 26, Martine Inc shipped goods to Marigold FOB destination. The invoice price was $ 380 plus $ 15 for freight. The receiving report indicates that the goods were received by Marigold on March 2 C > s Marigold had $ 350 of inventory at a customer's warehouse on approval." The customer was going to let Marigold know whether it wanted the merchandise by the end of the week. March 4 Id Marigold also had $ 250 of inventory at a Belle craft shop, on consignment from Marigold > $ le

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!