q13t In an annual audit of Whispering Winds Company Limited, you find that a physical inventory count on December 31, 2023, showed merchandise of \( \$ 443,000 \). You ako discover that the following items were exeluded from the \(\$ 443,000 \). 1. Merchandise of \( \$ 61.700 \) is held by Whispering Winds on consignment from Bontlon Corporation. 2. Merchandise costing \(\$ 33,700 \) was shipped by Whispering Winds fo b. destination to XYZ Ltdi on December 31. 2023. This merchandise was accepted by XYZ on January \( 6, 2024 \). 3. Merchandise costing \$ 46,300 was shipped to. b. shipping point to ABC Company on December 29, 2023. This merchandise was received by ABC on January 10, 2024, 4. Merchandise costing \(\$ 73, 300 \) was shipped fo.b. destination from Wholesaler inc. to Whispering Winds on December 30. 2023. Whispering Winds received the items on January 3, 2024. 5. Merchandise costing \$51,400 was shipped by Distributor Ltd. fo bi thipping point on December 30, 2023, and received at Whispering Winds's office on January 2, 2024. 6. Whipering Winds had excess inventory and incurred an additional \(\ $ 1,430 \) in storage costs due to delayed shipenent in transaction (3) abeve. 7. Whispering Winds incurred \( \$ 2,180) for interest expense on inventocy it purchased through delayed payment plaris in fiscat 20236. Whispering Winds had excess inventory and incurred an additional \(\$ 1.430 \) in storage costs due to delayed shipment in transaction (3) above. 7. Whispering Winds incurred \( \$ 2,180 \) for interest expense on inventory it purchased through delayed payment plans in fiscal 2023. (a) Based on the information provided above, calculate the amount of inventory that should appear on Whispering Winds's December 31, 2023 SFP. Amount of inventory
q13t In an annual audit of Whispering Winds Company Limited, you find that a physical inventory count on December 31, 2023, showed merchandise of \( \$ 443,000 \). You ako discover that the following items were exeluded from the \(\$ 443,000 \). 1. Merchandise of \( \$ 61.700 \) is held by Whispering Winds on consignment from Bontlon Corporation. 2. Merchandise costing \(\$ 33,700 \) was shipped by Whispering Winds fo b. destination to XYZ Ltdi on December 31. 2023. This merchandise was accepted by XYZ on January \( 6, 2024 \). 3. Merchandise costing \$ 46,300 was shipped to. b. shipping point to ABC Company on December 29, 2023. This merchandise was received by ABC on January 10, 2024, 4. Merchandise costing \(\$ 73, 300 \) was shipped fo.b. destination from Wholesaler inc. to Whispering Winds on December 30. 2023. Whispering Winds received the items on January 3, 2024. 5. Merchandise costing \$51,400 was shipped by Distributor Ltd. fo bi thipping point on December 30, 2023, and received at Whispering Winds's office on January 2, 2024. 6. Whipering Winds had excess inventory and incurred an additional \(\ $ 1,430 \) in storage costs due to delayed shipenent in transaction (3) abeve. 7. Whispering Winds incurred \( \$ 2,180) for interest expense on inventocy it purchased through delayed payment plaris in fiscat 20236. Whispering Winds had excess inventory and incurred an additional \(\$ 1.430 \) in storage costs due to delayed shipment in transaction (3) above. 7. Whispering Winds incurred \( \$ 2,180 \) for interest expense on inventory it purchased through delayed payment plans in fiscal 2023. (a) Based on the information provided above, calculate the amount of inventory that should appear on Whispering Winds's December 31, 2023 SFP. Amount of inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:q13t In an annual audit of Whispering Winds Company Limited, you find that a physical inventory count on December
31, 2023, showed merchandise of \( \$ 443,000 \). You ako discover that the following items were exeluded from the
\(\$ 443,000 \). 1. Merchandise of \( \$ 61.700 \) is held by Whispering Winds on consignment from Bontlon
Corporation. 2. Merchandise costing \(\$ 33,700 \) was shipped by Whispering Winds fo b. destination to XYZ Ltdi on
December 31. 2023. This merchandise was accepted by XYZ on January \( 6, 2024 \). 3. Merchandise costing \$
46,300 was shipped to. b. shipping point to ABC Company on December 29, 2023. This merchandise was received by
ABC on January 10, 2024, 4. Merchandise costing \(\$ 73, 300 \) was shipped fo.b. destination from Wholesaler inc. to
Whispering Winds on December 30. 2023. Whispering Winds received the items on January 3, 2024. 5. Merchandise
costing \$51,400 was shipped by Distributor Ltd. fo bi thipping point on December 30, 2023, and received at
Whispering Winds's office on January 2, 2024. 6. Whipering Winds had excess inventory and incurred an additional \(\
$ 1,430 \) in storage costs due to delayed shipenent in transaction (3) abeve. 7. Whispering Winds incurred \( \$
2,180) for interest expense on inventocy it purchased through delayed payment plaris in fiscat 20236. Whispering
Winds had excess inventory and incurred an additional \(\$ 1.430 \) in storage costs due to delayed shipment in
transaction (3) above. 7. Whispering Winds incurred \( \$ 2,180 \) for interest expense on inventory it purchased
through delayed payment plans in fiscal 2023. (a) Based on the information provided above, calculate the amount of
inventory that should appear on Whispering Winds's December 31, 2023 SFP. Amount of inventory
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