Hanabishi Company had 20,500 units on January 30, 2019, based on physical count of goods on that date. The following items have not yet been recorded as purchases and sales as of November 30. Number of units 550 450 650 No. Transaction Purchase Purchase Terms FOB Shipping point FOB Destination 1 2 FOB Buyer FOB Shipping point FOB Destination Purchase Sale Sale 600 850 All items were shipped by the seller January 30, 2019 and received by buyer February 15, 2019. -N M 45
Hanabishi Company had 20,500 units on January 30, 2019, based on physical count of goods on that date. The following items have not yet been recorded as purchases and sales as of November 30. Number of units 550 450 650 No. Transaction Purchase Purchase Terms FOB Shipping point FOB Destination 1 2 FOB Buyer FOB Shipping point FOB Destination Purchase Sale Sale 600 850 All items were shipped by the seller January 30, 2019 and received by buyer February 15, 2019. -N M 45
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
How many units should be considered as inventory at the end of January 2019?
a. 22,550
b. 22,500
c. 21,900
d. 22,000

Transcribed Image Text:Hanabishi Company had 20,500 units on January 30, 2019, based on physical count of goods on
that date. The following items have not yet been recorded as purchases and sales as of November
30.
Number of units
550
No.
Transaction
Purchase
Terms
FOB Shipping point
FOB Destination
1
450
650
Purchase
3
Purchase
FOB Buyer
FOB Shipping point
4
Sale
600
Sale
FOB Destination
850
All items were shipped by the seller January 30, 2019 and received by buyer February 15,
2019.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education