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How much should Alpha count in its ending inventory

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Reference no: EM132943211

Problem - Alpha purchased inventory for $5,000 cash from Beta (the vendor) with terms of FOB shipping point. And Alpha sold other merchandise to Gamma (the customer) for $8,000 cash with terms FOB destination. How much should Alpha count (include) in its ending inventory if the purchased inventory has been shipped by Beta but not yet received by Alpha, and if the merchandise sold has left Alpha's factory, but has not yet been received by Gamma?

Reference no: EM132943211

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