Sandoval needs to determine its year-end inventory. The warehouse contains 22,000 units, of which 3,200 were damaged by flood and are not sellable. Another 2,200 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4,200 units at a consignee's location. How many units should Sandoval include in its year-end inventory? Multiple Choice O O O 23,000 31.600 20,800 25,200 28,400

Sandoval needs to determine its year-end inventory. The warehouse contains 22,000 units, of which 3,200 were damaged by flood and are not sellable. Another 2,200 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4,200 units at a consignee's location. How many units should Sandoval include in its year-end inventory? Multiple Choice O O O 23,000 31.600 20,800 25,200 28,400

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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Sandoval needs to determine its year-end inventory. The warehouse contains 23,000 units, of which 3,300 were damaged by flood and are not sellable. Another 2,300 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4,300 units at a consignee's location. How many units should Sandoval include in its year-end inventory?
At the end of the current period, a company checks its physical inventory against its records and discovers the following. . 1,700 units (products) were in the warehouse. . 23 of the 1,700 units in the warehouse were destroyed when a storage shelf collapsed. . 180 units were loaded in a trailer. The units are to be delivered to a customer, terms FOB destination. • 140 units were out on consignment to a retailer. Determine the number of units in the company's period-end inventory. Units in Ending Inventory Units of Product in warehouse: Add: Less: Total units in period-end inventory 1,700 units units
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