Consignment from richardson company

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On December 31, Roberts Company had an ending inventory of $112,800 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 $3,990 were included in ending inventory. These goods were on consignment from Richardson Company and had not yet been sold on December 31.

(b) Inventory items with a cost of $2,500 were included in ending inventory. These goods were in transit from Roberts Company to Martin Company and were sold FOB shipping point.

(c) Inventory items with a cost of $3,770 were included in ending inventory. These goods were in transit from Roberts Company to Carter Company and were sold FOB destination.

Reference no: EM132438350

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