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tangare [24]
3 years ago
11

Windsor, Inc. took a physical inventory on December 31 and determined that goods costing $222,500 were on hand. Not included in

the physical count were $31,000 of goods purchased from Bonita Industries, FOB, shipping point, and $25,500 of goods sold to Metlock, Inc. for $33,000, FOB destination. Both the Bonita purchase and the Metlock sale were in transit at year-end. What amount should Windsor report as its December 31 inventory?
Business
1 answer:
katen-ka-za [31]3 years ago
3 0

Answer:

December 31 Ending Inventory   $ 255500

Explanation:

Windsor, Inc.

December 31 Physical inventory on hand $222,500

Add goods sold to Metlock, Inc. for $33,000

December 31 Ending Inventory   $ 255500

Purchases in transit are not included in the inventory unless received.

Sales in transit are included in the inventory .

The goods sold are the seller's inventory unless received by the purchaser.Similarly purchases in transit are not included in the inventory evaluation.

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The marketing firm need to focus their efforts on

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Answer:

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3 years ago
Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t
vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

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to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155       ..................1

and cost equation

4.25 x + 5.60 y = 784.30       ...............2

now from equation 1 we get y

y = 155 - x     .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

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