Business, 19.10.2021 22:40 heids17043

At December 31, 2020, Delar Co. completed its year-end physical count of inventory. The inventory was valued at first-in, first-out (FIFO) costs and totaled $500,000. Delar subsequently noted the following two items:1.1,000 units of inventory with a FIFO cost of $10 each were shipped and billed to a customer, f. o.b. destination on December 30, 2020. These items were included in the physical count.2.6,000 units at a FIFO cost of $5 each were held on consignment for one of its suppliers at December 31, 2020, but were excluded from the physical count. What amount should Delar report as inventory at year end

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At December 31, 2020, Delar Co. completed its year-end physical count of inventory. The inventory wa...

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