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aksik [14]
3 years ago
7

Windsor Company took a physical inventory on December 31 and determined that goods costing $191,500 were on hand. Not included i

n the physical count were $24,510 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $21,620 of goods sold to Alvarez Company for $29,090, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Windsor report as its December 31 inventory?
Business
1 answer:
WINSTONCH [101]3 years ago
7 0

Answer:

$237,630

Explanation:

Windsor report as its December 31 inventory:

= Inventory in hand as per physical count + Goods purchased from P corporation under FOB shipping basis + Cost of goods sold to A company under FOB destination basis

= $191,500 + $24,510 + $21,620

= $237,630

Therefore, the amount to be reported by Windsor company is $237,630.

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