Solution-What amount should kingbird report as december

What amount should kingbird report as december

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Kingbird, Inc. took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in the physical count were $27,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $23,000 of goods sold to Alvarez Company for $30,800, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.

Question 1: What amount should Kingbird report as its December 31 inventory

Reference no: EM132510651

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What amount should kingbird report as december

Reference no: EM132510651

Reference no: EM132510651

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