A physical count of Ayayai Company’s inventory at year-end determined that inventory on hand had a value of $1,628,000. Upon further investigation, it was determined that this amount included the following: An inventory purchase of $51,900 made by Ayayai shipped from Sandhill Company on December 28 with terms FOB destination, but not due to be received until January 3. Goods shipped to a customer with a cost of $74,700 with terms FOB destination on December 29, but not expected to reach their destination until January 3. Goods shipped to a customer with a cost of $55,500 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5. Goods held on consignment from Florence Company with a cost $16,300. Compute the amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022.

The amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022 is $1,504,800

Explanation:

In order to calculate the amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022 we would have to make the following calculation:

amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022= Inventory as per physical count-inventory purchase-goods shipped-goods held on consignment

amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022= $1,628,000-$51,900-$55,500$-$16,300

amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022=$1,504,800

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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