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morpeh [17]
3 years ago
8

Gato Inc. had the following inventory situations to consider at January 31, its year-end. Identify which of the following items

should be included in inventory. (a) Goods held on consignment for Steele Corp. since December 12. select an option (b) Goods shipped on consignment to Logan Holdings Inc. on January 5. select an option (c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit
Business
1 answer:
OverLord2011 [107]3 years ago
4 0

Answer:

(b) Goods shipped on consignment to Logan Holdings Inc. on January 5.

(c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit.

Explanation:

Gato Inc. should include two items in its inventory. Good shipped on consignment to Logan Holdings Inc. should be included in inventory because this is transaction after the closing of December period. Goods shipped tp a customer on January 29 must also be included in the inventory because the goods are still in transit.

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Name 2 advantages and 2 disadvantages of opening a franchise.
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A(n) _____ does not give an exclusive right of possession, but a right of permanent, intermittent use
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Answer: I think its A or B

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Bagrov Corporation had a net decrease in cash of $14,500 for the current year. Net cash used in investing activities was $56,500
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