A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the followin • Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025. • Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025. • Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025. • Inventory costing $20,000 was being held on consignment by Traynor Company. What amount should the company report as inventory in its December 31, 2024, balance sheet? Multiple Choice O O $391,000 $437,000 $333,000 $467,000
A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the followin • Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025. • Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025. • Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025. • Inventory costing $20,000 was being held on consignment by Traynor Company. What amount should the company report as inventory in its December 31, 2024, balance sheet? Multiple Choice O O $391,000 $437,000 $333,000 $467,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the following:
• Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025.
• Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025.
• Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025.
• Inventory costing $20,000 was being held on consignment by Traynor Company.
What amount should the company report as inventory in its December 31, 2024, balance sheet?
Multiple Choice
$391,000
$437,000
$333,000
$467,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1341decc-8dec-4d41-bf9b-f8cce7b2aabd%2Ffde32b93-0571-4443-a2d4-e3aa2af3e57a%2Fj86h2gs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2
A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the following:
• Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025.
• Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025.
• Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025.
• Inventory costing $20,000 was being held on consignment by Traynor Company.
What amount should the company report as inventory in its December 31, 2024, balance sheet?
Multiple Choice
$391,000
$437,000
$333,000
$467,000
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