A physical count of Concord Company's inventory at year-end determined that inventory on hand had a value of $1,627,000. Upon further investigation, it was determined that this amount included the following:

1. An inventory purchase of $51,200 made by Concord shipped from Oriole Company on December 28 with terms FOB destination, but not due to be received until January 3.

2.Goods shipped to a customer with a cost of $70,900 with terms FOB destination on December 29, but not expected to reach their destination until January 3.

3. Goods shipped to a customer with a cost of $54,200 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5.

4. Goods held on consignment from Florence Company with a cost $15,800.

Required: Compute the amount that should be reported for inventory on Concord Company's balance sheet at December 31, 2022.

Check the explanation

Explanation:

Balance sheet which literally is a statement of financial condition or position of a company, it is a summary of the financial balances of an organization, corporate firm or an individual, whether it is a business partnership, a sole proprietorship, a private limited company, a corporation, or other organization like a Government and her parastatal or not-for-profit entity.

The inventory on Concord Company's balance sheet at December 31, 2022. can be seen below

Inventory as per physical count  1627000

1                                                      -51200

2                                                       0

3                                                      -54200

4                                                      -15800

Balance Sheet                                1505800

c.

clarify customers’ doubts only when asked.

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants