Solution-At what amount should the inventory be reduced

At what amount should the inventory be reduced

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Question - Nice Company included the following in inventory at year-end: $1,400,000 Merchandise out on consignment at sale price, including 40% markup on sales $1,200,000 Goods purchased in transit, shipped FOB shipping point $900,000 Goods held on consignment by Nice. At what amount should the inventory be reduced?

Reference no: EM132927768

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At what amount should the inventory be reduced

Reference no: EM132927768

Reference no: EM132927768

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