Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 7.00

gotham company

gotham company reported a december 31 ending inventory balance of $412,000. The following additional information is also available:The ending inventory balance of $412,000 included $72,000 of consigned inventory for which gotham was the cosignor.The ending inventory balance of $412,000 included $22,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. The ending inventory balance of $412,000 did not include goods costing $48,000 that were purchased by Gotham on December 28 and shipped FOB destination on that date. Gotham did not receive the goods until January 2 of the following year.The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable value of the damaged goods was $10,000. The ending inventory balance of $412,000 included $43,000 of consigned inventory for which Gotham was the consignee.Required:Based on the information, calculate the correct ending inventory balance on December 31

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 03:07 PM My Price 7.00

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