Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 7.00

Seemore Lens Company

Determine the correct Inventory Balance

Seemore Lens Company(SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $70,000 and Cost of goods sold of $420,000.

A. Included in Inventory (and Accountspayable) are $10,000 of lenses held on consignment.

B. Included in the Inventory Balance are $5,000 of office supplies held in SLC's warehouse.

C. Excluded from the inventory balance are $8,000 of lenses in the warehouse, ready to send to customers on January1. SLC reported these lenses as sold on December 31, at a price of $15,000.

D. Included in the Inventory balance are $3,000 of lenses that were damaged in December and will be scrapped in Janurary, with no recoverable value.

  Inventory Cost of Goods Sold
Present Balance $70,000 $420,000
a.    
b.    
c.    
d.    
Appropriate Balance  

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 07:08 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)