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What amount should Venicio report as inventory at December

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Problem - The following items were included in Venicio Corporation's inventory account on December 31, 2019:

Merchandise out on consignment, at sales price, including 40% markup on selling price $14,000

Goods purchased, in transit, shipped FOB shipping point 12,000

Goods held on consignment by Venicio 9,000

Required - What amount should Venicio report as inventory at December 31, 2019?

Reference no: EM132882661

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What amount should Venicio report as inventory at December : Merchandise out on consignment, at sales price, including 40% markup on selling price $14,000. What amount should Venicio report as inventory at December
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