A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the followin • Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025. • Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025. • Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025. • Inventory costing $20,000 was being held on consignment by Traynor Company. What amount should the company report as inventory in its December 31, 2024, balance sheet? Multiple Choice O O $391,000 $437,000 $333,000 $467,000

A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the followin • Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024, was received on January 5, 2025. • Inventory costing $30,000, shipped f.o.b. destination from a vendor on December 28, 2024, was received on January 3, 2025. • Inventory costing $46,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2025. • Inventory costing $20,000 was being held on consignment by Traynor Company. What amount should the company report as inventory in its December 31, 2024, balance sheet? Multiple Choice O O $391,000 $437,000 $333,000 $467,000

Name: 2A company's inventory on December 31, 2024, was $333,000 based on a
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Description: 2A company's inventory on December 31, 2024, was $333,000 based on a physical count priced at cost, and before any necessary adjustment for the following:• Inventory costing $38,000, shipped f.o.b. shipping point from a vendor on December 30, 2024,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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