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How much inventory should be reported on the balance sheet

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Question - Accoring to the January 31, 2021 physical inventory count, Sheridan Company has $24410 in inventory on hand at year end. In addition, at year end the company has $ 1250 of merchandise in transit purchased from a supplier and shipped FOB destination. Included in the physical inventory count was $960 of goods held on consignment for a local manufacturer. How much inventory should be reported on the company's January 31, 2021 balance sheet?

Reference no: EM133173028

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