Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Jul 2017 My Price 3.00

Chau Company

Chau Company just took its physical inventory. The count of inventory items on hand at the company’s business locations resulted in a total inventory cost of $300,000. In reviewing the details of the count and related inventory transactions, you have discovered the following.
1. Chau has sent inventory costing $26,000 on consignment to Nikki Company. All of this inventory was at Nikki’s showrooms on December 31.
2. The company did not include in the count inventory (cost, $20,000) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.
3. The company did not include in the count inventory (cost, $17,000) that was purchased with terms of FOB shipping point. The goods were in transit on December 31. Compute the correct December 31 inventory.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Jul 2017 11:07 PM My Price 3.00

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