Business, 15.11.2019 20:31 helloitschump0vfdz
The mateo corporation's inventory at december 31, 2013, was $325,000 based on a physical count priced at cost, and before any necessary adjustment for the following: â–ª merchandise costing $30,000, shipped f. o.b. shipping point from a vendor on december 30, 2013, was received on january 5, 2014. â–ª merchandise costing $22,000, shipped f. o.b. destination from a vendor on december 28, 2013, was received on january 3, 2014. â–ª merchandise costing $38,000 was shipped to a customer f. o.b. destination on december 28, arrived at the customer's location on january 6, 2014. â–ª merchandise costing $12,000 was being held on consignment by traynor company. what amount should mateo corporation report as inventory in its december 31, 2013, balance sheet?
a.$367,000.
b.$427,000.
c.$405,000.
d.$325,000.
Answers: 1
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The mateo corporation's inventory at december 31, 2013, was $325,000 based on a physical count price...
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