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Inventory
10/20 - 6 Decorative Spotlights are defective and sent back to the vendor for Credit
10/15 - Purchase of 10 Decorative Spotlights for $10 each and 10 Ornamental Trees for $125 each.
10/25 - Purchase of 3 Decorative Spotlights for $10.50 each and 10 Ornamental Trees for $110 each.
10/27 - 1 Tree is damaged beyond repair and inventory adjustment is recorded
10/28 - Invoice to Frank's Fitness Center for the following:
12 Ornamental Trees $195 each $2340
6 Decorative Spotlights $19.95 each $119.70
Problem 1: What is the quantity and cost amount you have left in inventory on 10/31? Please show your work.
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