Answer:
$274,000
Explanation:
As per the data given in the question,
Particulars Amount
Inventory balance before considering following items $215,000
Adjustments:
1) According to FOB destination, ownership passes to buyer at receipt of goods $-
2) According to FOB shipping point, ownership passes to buyer at the point of shipment $27,000
3) According to FOB destination, ownership passes to buyer at receipt of goods
$32,000
4) As goods received before period close, no adjustment is required $-
5) According to FOB shipment, ownership passes to buyer at receipt of shipment $-
Correct inventory amount to be reported in Kwok's 2021 balance sheet
= ( $215,000 + $27,000 + $32,000) = $274,000