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yKpoI14uk [10]
3 years ago
13

Windsor, Inc. just took its physical inventory. The count of inventory items on hand at the company’s business locations resulte

d in a total inventory cost of $301,000. In reviewing the details of the count and related inventory transactions, you have discovered the following tems that had not been considered.
1. Dobler has sent inventory costing $29,120 on consignment to Phillips Company. All of this inventory was at Phillips’s showrooms on December 31.
2. The company did not include in the count inventory (cost, $20,800) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.
3. The company did not include in the count inventory (cost, $13,520) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.
Compute the correct December 31 inventory.
Business
1 answer:
svp [43]3 years ago
8 0

Answer:

Actual Inventory $ 343640

Explanation:

FOB Shipping point means as soon as the goods are sold they are the buyer's property and must be excluded from the inventory.

FOB destination means that the goods are the seller's property and responsibility unless the goods reach the destination. They are included in the seller inventory unless the buyer gets them.

Inventory sent on consignment is also counted in the cosigner's inventory.

The inventory costing $20,800 that was sold on December 28, terms FOB shipping point will not be included in the seller's inventory. They are now the buyer's responsibility.

Windsor, Inc

Inventory Stock Count on 31 Dec   $301,000

Add inventory sent on consignment $29,120

Add Inventory purchased FOB shipping  $13,520

Actual Inventory $ 343640

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Answer:

The answer is: Canadian workers will still have a higher productivity, it will be $0.40 per hour higher.

Explanation:

We can elaborate the following productivity table:

Year     Canadian productivity                 British productivity

0                   $33 per hour                        $29 per hour

1                   $33.33 per hour                    $29.87 per hour

2                  $33.66 per hour                    $30.77 per hour

3                  $34 per hour                         $31.69 per hour

4                  $34.34 per hour                    $32.64 per hour

5                  $34.68 per hour                   $33.62 per hour

6                  $35.03 per hour                   $34.63 per hour

At the end of year 6, Canadian workers' productivity will be $35.03 and British workers' productivity will be $34.63 per hour (Canadian workers will be $0.40 more productive).

6 0
3 years ago
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julia-pushkina [17]

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3 years ago
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Option C. Minimizing non-selling time.

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4 years ago
Inventory costing methods place primary reliance on assumptions about the flow of.
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3 0
1 year ago
The exchange-rate effect is one of the reasons why the aggregate demand curve is downward sloping.
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True.

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