Question: Rollins Technology is determining ending imentory In the imentory process, Rollins inadvertently miscategorized a $ 9 , 6 0 0 shipment of FOB destination goods

Rollins Technology is determining ending imentory In the imentory process, Rollins inadvertently miscategorized a $9,600 shipment of FOB destination goods in transit to a customer as FOB shipping point. What should Rollins do to correct this error?
It should not change their inventory count.
It should deduct $9,600 from their invent ory count.
it should deduct $4,800 from their inventory count.
It should add $9,600 to their imventory count.
Rollins Technology is determining ending imentory

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!

Q:

Rollins Technology is determining ending inventory. In the inventory process, Rollins inadvertently miscategorized a $9,600 shipment of FOB destination goods in transit to a customer as FOB shipping...

Q:

Rollins Technology is determining ending inventory. In the inventory process, Rollins inadvertently miscategorized a $ 9 , 6 0 0 shipment of FOB destination goods in transit to a customer as FOB...

Q:

QUESTION 35 For the next two questions suppose the following data: Ruth Company currently has $1,000,000 in accounts receivable. Its days sales outstanding (DSO) is 40 days (based on a 365-day year)....

Q:

Rollins Corporation is determining its WACC. Its target capital structure is 3 0 percent debt, 2 0 percent preferred stock, and 5 0 percent common equity. Its bonds have a 7 percent coupon, paid...

Q:

1. Describe the composition of your corporation's contributed capital [Hint: contributed capital includes common and preferred stock plus any paid in capital in excess of par (or stated value)]. 2....

Q:

Please help with the following assignment. Please use the Apple 10k provided and choose another competitive company. Please let me know if you have any questions. Created by EDGAR Online, Inc. APPLE...

Q:

Please help with this assignment. Ive attached the 2016 Apple 10k report and questions. thanks Category: Revenue and Net Income1. What was the corporation's net sales, cost of goods sold, and gross...

Q:

Please help with this accounting assignment by replying to the questions. Attached is the Apple 10K report that you will use as a reference. Created by EDGAR Online, Inc. APPLE INC Table_Of_Contents...

Q:

Please help with the attached problems. Ive attached the Apple 10-K and problems. Created by EDGAR Online, Inc. APPLE INC Table_Of_Contents Form Type: 10-K Period End: Sep 24, 2016 Date Filed: Oct...

Q:

The following income statement was prepared for Frame Supplies for Year 1 : During the year-end audit, the following efrors were discovered: 1. A $2,500 payment for repairs was erroneously charged to...

Q:

Show that the functions f(x) = x and g(x) = |x| are linearly independent when considered as functions on all of R, but are linearly dependent when considered as functions defined only on R+ = (U > 0).

Q:

Show that the matrix -(:) 2 0 C = 1 2 is not diagonalizable. Justify all your answers.

Q:

Informed consent means clearly explaining all of the following EXCEPT Responses ensuring that data is confidential. ensuring that data is confidential. explaining the hypothesis to the participants....

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...