Business, 12.03.2021 15:10 swello1937

Concord Corporation 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 $297,000. In reviewing the details of the count and related inventory transactions, you have discovered the following items had not been considered. 1. Concord has sent inventory costing $27,000 on consignment to Richfield Company. All of this inventory was at Richfield’s showrooms on December 31.
2. The company did not include in the count inventory (cost, $19,100) 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, $17,100) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.

Required:
Compute the correct December 31 inventory.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 04:30

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Answers: 1

Answer

Business, 22.06.2019 13:10

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?

Answers: 2

Answer

Business, 22.06.2019 21:00

Reagan corporation is a wholesale distributor of truck replacement parts. initial amounts taken from reagan's records are as follows:

Answers: 1

Answer

Business, 22.06.2019 23:40

8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut.for should be given.which businesses should cut hair? check all that apply.firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply.bobchoseanyvettethe maximum possible total surplus is

Answers: 3

Answer

You know the right answer?

Concord Corporation just took its physical inventory on December 31. The count of inventory items on...

Questions