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Question - On December 31, Bryant Company had an ending inventory of $114,300 based primarily on a physical count at its warehouse. In computing the final balance of Inventory the following information was available:
(a) Inventory items with a cost of $3,960 were included in ending inventory. These goods were on consinnment from Nelson Company and had not yet been sold on December 31.
(b) Inventory items with a cost of $3,290 were included in ending inventory. These goods were in transit from Bryant Company to Collins Company and were sold FOB shinnina point.
(c) Inventory items with a cost of $3,250 were included in ending inventory. These goods were in transit from Bryant Company to Wilson Company and were sold FOB destination.
Required: Using the information given above, compute the correct final balance of Inventory.
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