74000 in goods sold by mohling with terms fob destination

Reference no: EM13577278

At December 31, 2014 Mohling Company's inventory records indicated a balance of $602,000. Upon further investigation it was determined that this amount included the following:

1.$112,000 in inventory purchases made by Mohling shipped from the seller 12/27/14 terms FOB destination, but not due to be received until January 2nd

2.$74,000 in goods sold by Mohling with terms FOB destination on December 27^th. The goods are not expected to reach their destination until January 6^th

3.$6,000 of goods received on consignment from Dollywood Company
What is Mohling's correct ending inventory balance at December31, 2014?

Reference no: EM13577278

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