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$456,000 36,480 27,360 56,700 78,300 15, 800 1,500 42,600 74,900 42,400 60,000

$456,000 36,480 27,360 56,700 78,300 15, 800 1,500 42,600 74,900 42,400 60,000

FINANCIAL ACCOUNTING
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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Rondo Ltd. (RL) is a wholesaler operation, with an active warehouse. Staff at RL have prepared a preliminary list of inventory, following its count on November 30. a. Goods counted in the physical inventory b. Provincial sales tax on the amount in a. c. Federal GST on the amount in a. d. Goods that arrived from a supplier on December 2, shipped FOB shipping point on November 28. Goods that were shipped to a customer on November 28, shipped F08 shipping point. Goods that were on consignment with a customer but sold by the customer on December 10. Interest cost on goods in a, incurred during lengthy delivery period from supplier. h. Goods that were in RL's warehouse on November 30, about to be shipped back to the supplier because of defects. 1. Cost of operating and heating the warehouse facility for the year so that goods are available for sale when needed. 1 Cost of freight to ship goods in a, from suppliers to RL, where RL is responsible for freight. k. Cost of freight to ship goods from RL to customers during the year, where RL is responsible for freight. e. f. g. Required: Determine the dollar amount of ending inventory 1 of 5 Next > $456, 000 36,480 27,360 56,700 78,300 15,800 1,500 42,600 74, 800 42,400 60,000
Transcribed Image Text:Rondo Ltd. (RL) is a wholesaler operation, with an active warehouse. Staff at RL have prepared a preliminary list of inventory, following its count on November 30. a. Goods counted in the physical inventory b. Provincial sales tax on the amount in a. c. Federal GST on the amount in a. d. Goods that arrived from a supplier on December 2, shipped FOB shipping point on November 28. Goods that were shipped to a customer on November 28, shipped F08 shipping point. Goods that were on consignment with a customer but sold by the customer on December 10. Interest cost on goods in a, incurred during lengthy delivery period from supplier. h. Goods that were in RL's warehouse on November 30, about to be shipped back to the supplier because of defects. 1. Cost of operating and heating the warehouse facility for the year so that goods are available for sale when needed. 1 Cost of freight to ship goods in a, from suppliers to RL, where RL is responsible for freight. k. Cost of freight to ship goods from RL to customers during the year, where RL is responsible for freight. e. f. g. Required: Determine the dollar amount of ending inventory 1 of 5 Next > $456, 000 36,480 27,360 56,700 78,300 15,800 1,500 42,600 74, 800 42,400 60,000
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