Stone Company had the following consignment transactions during December 2011:Inventory shipped on consignment to Beta Company 1,800,000Freight paid to by Stone90,000Inventory received on consignment from Alpha Company1,200,000Freight paid by Alpha50,000No Sales of consigned goods were made in December 2011. What amount should be included as consigned inventory on December 31, 2011?a. 1,200,000b. 1,250,000c. 1,800,000d. 1,890.000
Stone Company had the following consignment transactions during December 2011:Inventory shipped on consignment to Beta Company 1,800,000Freight paid to by Stone90,000Inventory received on consignment from Alpha Company1,200,000Freight paid by Alpha50,000No Sales of consigned goods were made in December 2011. What amount should be included as consigned inventory on December 31, 2011?a. 1,200,000b. 1,250,000c. 1,800,000d. 1,890.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Stone Company had the following consignment transactions during December 2011:Inventory shipped on consignment to Beta Company
1,800,000Freight paid to by Stone90,000Inventory received on consignment from Alpha Company1,200,000Freight paid by Alpha50,000No Sales of consigned goods were made in December 2011. What amount should be included as consigned inventory on December 31, 2011?a. 1,200,000b. 1,250,000c. 1,800,000d. 1,890.000
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