FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1. At year-end, Barr Company had shipped $12,500 of merchandise FOB destination to Lee Company. Which company should include
the $12,500 of merchandise in transit as part of its year-end inventory?
2. Parris Company has shipped $20,000 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris.
Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory?
Complete this questlon by entering your answers in the tabs below.
Required 1
Required 2
Parris Company has shipped $20,000 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for
Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory?
Identify the consignor.
Identify the consignee.
Which company should include any unsold goods as part of its inventory?
< Required 1
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Transcribed Image Text:1. At year-end, Barr Company had shipped $12,500 of merchandise FOB destination to Lee Company. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory? 2. Parris Company has shipped $20,000 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Complete this questlon by entering your answers in the tabs below. Required 1 Required 2 Parris Company has shipped $20,000 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee. Which company should include any unsold goods as part of its inventory? Identify the consignor. Identify the consignee. Which company should include any unsold goods as part of its inventory? < Required 1
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