Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories. To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Question

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Answer 1

Question

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

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Answer 2

Question

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Expert Solution & Answer

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Answer 3

Question

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

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Answer 4

Question

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Expert Solution & Answer

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Answer 5

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 6

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 7

Chapter 6, Problem 6.1BE

(a)

To determine

Physical inventory is the actual inventory which are counted tangibly. Normally, at the end of each accounting period, company take the count of the physical inventory. It contains the details of the inventories like, actual count, weight, volume, and measures for all type of inventories.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 8

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 9

(b)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 10

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 11

(c)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 12

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 13

(d)

To determine

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 6 - The key to successful business operations is...Ch. 6 - Prob. 2Q Ch. 6 - What is just-in-time inventory management? What...Ch. 6 - Prob. 4Q Ch. 6 - Prob. 5Q Ch. 6 - Prob. 6Q Ch. 6 - Prob. 7Q Ch. 6 - Prob. 8Q Ch. 6 - What is the major advantage and major disadvantage...Ch. 6 - The selection of an inventory cost flow method is...

Solution Summary: The author explains that physical inventory is the actual inventory which are counted tangentially at the end of each accounting period. 900 units of inventory shipped on consignment by Company P to another company will not be included in

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To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

To Identify: Whether the following item should be included or excluded in the P’s Company physical inventory.

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