A physical count of Concord Company's inventory at year-end determined that inventory on hand had a value of $1,627,000. Upon further investigation, it was determined that this amount included the following:

1. An inventory purchase of $51,200 made by Concord shipped from Oriole Company on December 28 with terms FOB destination, but not due to be received until January 3.

2.Goods shipped to a customer with a cost of $70,900 with terms FOB destination on December 29, but not expected to reach their destination until January 3.

3. Goods shipped to a customer with a cost of $54,200 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5.

4. Goods held on consignment from Florence Company with a cost $15,800.

Required: Compute the amount that should be reported for inventory on Concord Company's balance sheet at December 31, 2022.

Check the explanation

Explanation:

Balance sheet which literally is a statement of financial condition or position of a company, it is a summary of the financial balances of an organization, corporate firm or an individual, whether it is a business partnership, a sole proprietorship, a private limited company, a corporation, or other organization like a Government and her parastatal or not-for-profit entity.

The inventory on Concord Company's balance sheet at December 31, 2022. can be seen below

Inventory as per physical count  1627000

1                                                      -51200

2                                                       0

3                                                      -54200

4                                                      -15800

Balance Sheet                                1505800

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )

answer; because many corporate watch groups will discover and publicize unethical behavior by suppliers, link it to the american company, and harm its reputation;