Business, 19.02.2020 03:13 joellundy

Gotham Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available:• The ending inventory balance of $412,000 included $72,000 of consigned inventory for which Gotham was the consignor.• The ending inventory balance of $412,000 included $22,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year.• The ending inventory balance of $412,000 did not include goods costing $48,000 that were purchased by Gotham on December 28 and shipped FOB destination on that date. Gotham did not receive the goods until January 2 of the following year.• The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable value of the damaged goods was $10,000.• The ending inventory balance of $412,000 included $43,000 of consigned inventory for which Gotham was the consignee. Based on this information, the correct balance for ending inventory on December 31 is. A. $247,000B. $341,000C. $362,000D. $309,000E. $319,000

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Gotham Company reported a December 31 ending inventory balance of $412,000. The following additional...

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