Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $165,000 were on hand. Not included i

Question

2 years ago

15

Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $165,000 were on hand. Not included i

n the physical count were $20,400 of goods purchased from Pelzer Corporation, FOB shipping point, and $21,400 of goods sold to Alvarez Company for $28,000, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Sheffield report as its December 31 inventory?

Business

1 answer:

Marina86 [1] · Answer 1 · 2023-04-25T09:50:12+03:00

Marina86 [1]2 years ago

4 0

Answer: $272,570

Explanation: