(inventoriable Costs)in your audit of Garza Company, you find that a physical in

Question

(inventoriable Costs)in your audit of Garza Company, you find that a physical inventory on December 31, 2012, showed merchandise with a cost of $441000 was on hand at that date. You also discover the following items were all excluded from the $441,000.
1. Merchandise of $61,000 which is held by Garza on connsignment. The consignor is the Bontemps Company.
Based on the above information, calculate the amount that should appear on Garza's balance sheet at December 31, 2012, for inventory.

This the question from E8-12, Which has 4 more questions do I have to type each one individually or can you look at the book. Please explain step by step..

Explanation / Answer

$441000 +$61,000 this is the answer if balance sheet is prepared afterwards.. only $441000 if immediate balance sheet is prepared THANKS PLEASE RATE

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