A shipment of consignment material for your company store

Reference no: EM13394893

The Metro Company has $248,655 in ending Inventory on their books at their December 31 year-end with the following transactions still unaccounted for. a. An invoice for $21,500 for material shipped F.O.B. Shipping Point on December 31. The material arrived on January 3. b. An Invoice for $16,450 for material shipped F.O.B. Destination on December 29. The Material arrived on Jan 4. c. A call from a customer holding $31,000 of material on consignment saying that they sold $8,000 of the material on December 30. d. A shipment of consignment material for your company store that arrived on December 29. The invoice was for $6,000. What is the final value of Inventory that Metro needs to show on their books at December 31?

Reference no: EM13394893

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