ENDING INVEJ\'TORY COSTS Sandy Chen owns a small specialty store,named Chen's Chattel,whose year-end is June 30. Determine the total amount that should be included in Chen'sChatters year-end inventory.A physical inventory taken on June 30 reveals the following: Cost of merchandise on the showroom floor and in the warehouse $43,600 Goods held on consignment (consignor is National Manufacturer) 6,400 Goods that Chen's Chattel,as the consignor,has for sale at the location of the Grand Avenue Vista 4,400 Sales invoices indicate that merchandisewas shipped on June 29,terms FOB shipping point, delivered at buyer's receiving dock on July 3 3,800 Sales invoices indicate that merchandisewas shipped on June 25,terms FOB destination, delivered at buyer's receiving dock on July S 4,000
ENDING INVEJ\'TORY COSTS Sandy Chen
owns a small specialty store,named Chen's Chattel,whose year-end is June 30.
Determine the total amount that should be included in Chen'sChatters year-end inventory.A physical inventory taken on June 30 reveals the following:
|
Cost of merchandise on the showroom floor and in the warehouse |
$43,600 |
|
Goods held on consignment (consignor is National Manufacturer) |
6,400 |
|
Goods that Chen's Chattel,as the consignor,has for sale at the location of the Grand Avenue Vista |
4,400 |
|
Sales invoices indicate that merchandisewas shipped on June 29,terms FOB shipping point, delivered at buyer's receiving dock on July 3 |
3,800 |
|
Sales invoices indicate that merchandisewas shipped on June 25,terms FOB destination, delivered at buyer's receiving dock on July S |
4,000 |
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