Current Attempt in Progress Bonita Company took a physical inventory on December 31 and determined that goods costing $210,000 were on hand. Not included in the physical count were $21,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $17.500 of goods sold to Alvarez Company for $25,500, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Bonita report as its December 31 inventory? Bonita ending Inventory $
Current Attempt in Progress Bonita Company took a physical inventory on December 31 and determined that goods costing $210,000 were on hand. Not included in the physical count were $21,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $17.500 of goods sold to Alvarez Company for $25,500, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Bonita report as its December 31 inventory? Bonita ending Inventory $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![Current Attempt in Progress
Bonita Company took a physical inventory on December 31 and determined that goods costing $210,000 were on
hand. Not included in the physical count were $21,000 of goods purchased from Pelzer Corporation, FOB shipping
point, and $17.500 of goods sold to Alvarez Company for $25,500, FOB destination. Both the Pelzer purchase and the
Alvarez sale were in transit at year-end. What amount should Bonita report as its December 31 inventory?
Bonita ending Inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb4a77155-f926-48a9-a261-c8a1a2f25525%2F3d9cf86d-ddde-4b25-9bcb-3f7269e8c4a5%2Fkk1l1ec_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
Bonita Company took a physical inventory on December 31 and determined that goods costing $210,000 were on
hand. Not included in the physical count were $21,000 of goods purchased from Pelzer Corporation, FOB shipping
point, and $17.500 of goods sold to Alvarez Company for $25,500, FOB destination. Both the Pelzer purchase and the
Alvarez sale were in transit at year-end. What amount should Bonita report as its December 31 inventory?
Bonita ending Inventory
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