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AysviL [449]
3 years ago
10

Blue Spruce Corp. took a physical inventory on December 31 and determined that goods costing $229,500 were on hand. Not included

in the physical count were $30,000 of goods purchased from Blossom Company, FOB, shipping point, and $25,500 of goods sold to Splish Brothers Inc. for $33,000, FOB destination. Both the Blossom purchase and the Splish Brothers sale were in transit at year-end. What amount should Blue Spruce report as its December 31 inventory?
Business
1 answer:
Irina18 [472]3 years ago
3 0

Answer:

Blue Spruce report as its December 31 inventory is $285,000

Explanation:

Correct inventory

= 229,500 + goods purchased FOB shipping point 30,000 + goods sold FOB destination 25,500

= 229,500 + 30,000 + 25,500

= 285,000

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