Compute the correct final balance of inventory

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Question - On December 31, Williams Company had an ending inventory of $60,600 based primarily on a physical count at its warehouse. In computing the final balance of Inventory, the following information was available:

a) Inventory items with a cost of $3,110 were excluded from ending inventory. These goods were on consignment from Washington Company and had not yet been sold on December 31.

b) Inventory items with a cost of $3,610 were included in ending inventory. These goods were in transit from Williams Company to Rogers Company and were sold FOB shipping point.

c) Inventory items with a cost of $2,880 were included in ending inventory. These goods were in transit from Williams Company to Phillips Company and were sold FOB destination.

Required - Using the information given above, compute the correct final balance of Inventory.

Reference no: EM132850589

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