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tangare [24]
2 years ago
11

Windsor, Inc. took a physical inventory on December 31 and determined that goods costing $222,500 were on hand. Not included in

the physical count were $31,000 of goods purchased from Bonita Industries, FOB, shipping point, and $25,500 of goods sold to Metlock, Inc. for $33,000, FOB destination. Both the Bonita purchase and the Metlock sale were in transit at year-end. What amount should Windsor report as its December 31 inventory?
Business
1 answer:
katen-ka-za [31]2 years ago
3 0

Answer:

December 31 Ending Inventory   $ 255500

Explanation:

Windsor, Inc.

December 31 Physical inventory on hand $222,500

Add goods sold to Metlock, Inc. for $33,000

December 31 Ending Inventory   $ 255500

Purchases in transit are not included in the inventory unless received.

Sales in transit are included in the inventory .

The goods sold are the seller's inventory unless received by the purchaser.Similarly purchases in transit are not included in the inventory evaluation.

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Sample Standard deviation (Sd) =$ 6.10

sample (n) = 25

Z =\frac{(x.bar - U)}{Sd/\sqrt{n} } =\frac{52.50 - 50}{6.10/\sqrt{25} }

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2 years ago
CMN Inc. uses LIFO and has experienced increasing costs since its founding. CMN disclosed that the LIFO reserve (also known as t
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Answer:

$20 million

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Steve is good at setting up and managing groups of computers for large cities. In which Information Technology career pathway is
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Steve is good at setting up and managing groups of computers for large cities. In which Information Technology career pathway is he most likely to get a job? Steve would most likely get a job in the computer engineering career field if he is good at setting up and managing groups of computers for large cities. This type of job requires someone who is computer savvy, understands what could happen and how to fix it so a large company that runs in large cities are not without computer access for too long. A computer engineer designs and develops computer systems and other tech devices.

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An upset forging plant will be built to produce 2,000,000 parts per year. The plant will operate for three 8-hour shifts per day
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