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What amount of inventory should Smith-Miller report

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Question - Smith-MillerEnterprises has inventory of$675,000 in its stores as of December 31. It also has two shipments in-transit that left the? suppliers' warehouses by December 28. Both shipments are expected to arrive on January 5. The first shipment of $129,000 was sold f.o.b. destination and the second shipment of $78,000 was sold f.o.b. shipping point. What amount of inventory should Smith-Miller report on its balance sheet as of December? 31?

Reference no: EM133079152

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