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Business, 04.04.2020 10:53 kenneth0125

A physical inventory count of MegaCorp has a $50,000 balance before considering the following:
Consigned goods sent to and held by Madison Company: $10,000
Inventory in transit sold FOB destination: $7,500
Inventory in transit purchased FOB destination: $2,500
At what amount should inventory be reported on the balance sheet?

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A physical inventory count of MegaCorp has a $50,000 balance before considering the following:
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