Business, 11.09.2019 05:30 marissalwilliams3

At december 31, 2017 sheffield corp.'s inventory records indicated a balance of $888000. upon further investigation it was determined that this amount included the following:
▪ $186000 in inventory purchases made by sheffield shipped from the seller 12/27/14 terms fob destination, but not due to be received until january 2nd
▪ $114000 in goods sold by sheffield with terms fob destination on december 27th. the goods are not expected to reach their destination until january 6th
▪ $7500 of goods received on consignment from riverbed company
what is sheffield correct ending inventory balance at december 31, 2017?

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At december 31, 2017 sheffield corp.'s inventory records indicated a balance of $888000. upon furthe...

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