.03 poits The Mat o Copontion her December 206.wes msooobesed on a physical coun

Question

.03 poits The Mat o Copontion her December 206.wes msooobesed on a physical count pied etcoe, Md beAvery necessaytda verse beeler Merchandise costing $30,000, shipped tob. shipping point from a vendor on December 30 2016, was received on January 5, 2017 Merchandise costing $22,000, shipped tob destination from a vendor on December 28 2016, wes recelved on Janusry 3, 20 Merchandse costing $38.000 was shipped to acustomer to.b. destination on December 28, amived at the customer's location on Jenumy 6, 2017. Merchandise costing $12.000 was being held on consignment by Traynor Compeny what smo "should Mateo Corporation report esinetry nts December 31, 20%, belence sheer? O $422000 O $367000 O $405.000 O $325.000 30 3 os lock control option command command

Explanation / Answer

Answer :- Option c). $ 405000.

Explanation :- Calculation of amount of inventory to be reported in Balance sheet as on Dec. 31, 2016 :-

= 325000 + 30000 + 38000 + 12000

= $ 405000. (Option c).

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