Do It! Review 6-1 Your answer is incorrect. Try again. Vaughn Manufacturing just

Question

Do It! Review 6-1 Your answer is incorrect. Try again. Vaughn Manufacturing just took its physical inventory on December 31. The count of inventory items on hand at the company's business locations resulted in a total inventory cost of $325,800. In reviewing the details of the count and related inventory transactions, you have discovered the following items that had not been considered 1. Vaughn Manufacturing has sent inventory costing $25,440 on consignment to Richfield Company. All of this inventory was at Richfield's showrooms on December 31 December 31. December 31 2. The company did not include in the count inventory (cost, $21,880) that was sold on December 28, terms FOB shipping point. The goods were in transit on 3. The company did not include in the count inventory (cost, $12,200) that was purchased with terms of FOB shipping point. The goods were in transit on Compute the correct December 31 inventory. Correct December 31 inventory 373120 SHOW LIST OF ACCOUNTS LINK TO TEXT

Explanation / Answer

Inventory as given 325800 1 25440 2 0 3 12200 Correct December 31 inventory 363440

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.