Bedrock Company reported a December 31 ending inventory balanceof $412,000. The following additional information is also available:-The ending inventory balance of $412,000 included $72,000 ofconsigned inventory for which Bedrock was the consignor.-The ending inventory balance of $412,000 included $22,000 of officesupplies that were stored in the warehouse and were to be used by thecompany's supervisors and managers during the coming year.Based on this information, the correct balance for ending inventory onDecember 31 is:A) $362,000B) $390,000C) $412,000D) $318,000E) $340,000

Problem OverviewBedrock Company reported an ending inventory balance of $412,000 on December 31.…

Answered: Bedrock Company reported a December 31…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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