Business, 14.04.2020 23:10 sebastiantroysmith

Symington Corporation uses the periodic inventory system. At December 31, 2009, the end of the company's fiscal year, a physical count of inventory revealed an ending inventory balance of $320,000. The following items were not included in the physical count:.
Goods held on consignment at Murphy Corporation$23,000 Merchandise shipped to a customer on 12/30 f. o.b. destination (merchandise arrived at customer's location on 1/3/10) 12,000 Merchandise shipped to a customer on 12/29 f. o.b. shipping point (merchandise arrived at customer's location on 1/2/10) 6,000 Merchandise purchased from a supplier, shipped f. o.b. destination on 12/29, in transit at year-end 24,000 Symington's 2009 ending inventory should be:.
A) $379,000
B) $320,000
C) $332,000
D) $355,000
D) $355,000

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Symington Corporation uses the periodic inventory system. At December 31, 2009, the end of the compa...

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