Business, 01.08.2020 04:01 shai56

Windsor, Inc. just took its physical inventory. The count of inventory items on hand at the company’s business locations resulted in a total inventory cost of $301,000. In reviewing the details of the count and related inventory transactions, you have discovered the following tems that had not been considered. 1. Dobler has sent inventory costing $29,120 on consignment to Phillips Company. All of this inventory was at Phillips’s showrooms on December 31.
2. The company did not include in the count inventory (cost, $20,800) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.
3. The company did not include in the count inventory (cost, $13,520) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.
Compute the correct December 31 inventory.

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Windsor, Inc. just took its physical inventory. The count of inventory items on hand at the company’...

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