Question 2 of 6

Question 2 of 6 0/16 Umatilla Bank and Trust is considering giving Novak Cwp. a loan, Before doing it decides that discussjors accountant may desirable One area 01 particular concern is the a Of 5261,940 Discussions With the reveal the follmying. 1. 2. Novak shipped costing $55, gm to Hemlock Fog shipng On December 28 The to reach until January 12. The not in the physia ttwy in the Warehouse. The count of the did include goods costing 397, 720 that to FOB 27 and were still in transit at Nov r goods costing $25.980 2. The "'ds were FOB 26 by Yanice Co. goods not included in the count, Novak shipped goods costing 354.080 to Ewer FOB destinatim The me in Canada on They included in Novak physical Ncwak received costing $40. I 'O on 2 that FOB destination 29. 'he was a rush that Was to arrive December put chase in $261,940. Determine the correct on 31. The inventory on December 31