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NeX [460]
3 years ago
13

Peete Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should

be included or excluded from the inventory taking.
a. 900 units of inventory shipped on consignment by Peete to another company.
b. 3,000 units of inventory in transit from a supplier shipped FOB destination.
c. 1,200 units of inventory sold but being held for customer pickup.
d. 500 units of inventory held on consignment from another company.
Business
1 answer:
larisa86 [58]3 years ago
7 0

Answer:

a. 900 units of inventory shipped on consignment by Peete to another company.

  • INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO PEETE COMPANY

b. 3,000 units of inventory in transit from a supplier shipped FOB destination.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE SELLER (FOB DESTINATION)

c. 1,200 units of inventory sold but being held for customer pickup.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE CUSTOMER

d. 500 units of inventory held on consignment from another company.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE CONSIGNOR

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artcher [175]

Answer:

aspiration reference group

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Aspiration reference group -

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3 years ago
Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had ap
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Answer:

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Explanation:

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3 years ago
A criticism of the National Bureau of Economic Research's business cycle dating committee is that it: Question 2 options: a) mak
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The answer is: c) dates peaks and troughs only after the fact.

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4 years ago
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An equal partnership is formed by Rita and Gerry. Rita contributes cash of $10,000 and a building with a fair market value of $1
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Answer:

Rita's basis in her partnership interest is $35000

Explanation:

given data

cash = $10,000

fair market value = $150,000

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to find out

Rita's basis in her partnership interest

solution

we know both Rita and Gerry half of total liability

we get here 50% share on debt that is

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