Solution-Stallman company took a physical inventory on

Stallman company took a physical inventory on december 31

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Reference no: EM131113739

1. Stallman Company took a physical inventory on December 31 and determined that goods costing $200,000 were on hand. Not included in the physical count were $25,000 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $22,000 of goods sold to Alvarez Company for $30,000, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory?

Reference no: EM131113739

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Stallman company took a physical inventory on december 31

Reference no: EM131113739

Reference no: EM131113739

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