In your audit of Chris Anderson Company, you find that a physical inventory 8h Dec 31, 202 dise withl cost of $439,750 was on hand at that date. You also discover the following items were all excluded from the $439,750. 1. Merchandise of $63,260 which is held by Anderson on consignment. The consignor is the Max Suzuki Company. Merchandise costing $34,870 which was shipped by Anderson f.o.b. destination to a customer on December 31, 2020. The customer was expected to receive the merchandise on January 6, 2021. 2. 3. Merchandise costing $44,590 which was shipped by Anderson f.o.b. shipping point to a customer on December 29, 2020. The customer was scheduled to receive the merchandise on January 2, 2021. 4. Merchandise costing $76,380 shipped by a vendor f.o.b. destination on December 30 , 2020, and received by Anderson on January 4, 2021. 5. Merchandise costing $54,450 shipped by a vendor f.o.b. shipping point on December 31, 2020, and received by Anderson on January 5, 2021.

In your audit of Chris Anderson Company, you find that a physical inventory 8h Dec 31, 202 dise withl cost of $439,750 was on hand at that date. You also discover the following items were all excluded from the $439,750. 1. Merchandise of $63,260 which is held by Anderson on consignment. The consignor is the Max Suzuki Company. Merchandise costing $34,870 which was shipped by Anderson f.o.b. destination to a customer on December 31, 2020. The customer was expected to receive the merchandise on January 6, 2021. 2. 3. Merchandise costing $44,590 which was shipped by Anderson f.o.b. shipping point to a customer on December 29, 2020. The customer was scheduled to receive the merchandise on January 2, 2021. 4. Merchandise costing $76,380 shipped by a vendor f.o.b. destination on December 30 , 2020, and received by Anderson on January 4, 2021. 5. Merchandise costing $54,450 shipped by a vendor f.o.b. shipping point on December 31, 2020, and received by Anderson on January 5, 2021.

Name: In your audit of Chris Anderson Company, you find that a physical inv
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Description: In your audit of Chris Anderson Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $439,750 was on hand at that date. You also discover the following items were all excluded from the $439,750.1. Merch

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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