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What amount should bell report as inventory

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Question - Bell Inc. took a physical inventory at the end of the year and determined that $840,000 of goods were on hand. In addition, the following items were not included in the physical count. Bell, Inc. determined that $96,000 of goods purchased were in transit that were shipped f.o.b. destination (goods were actually received by the company three days after the inventory c0unt). The company sold $40,000 worth of inventory f.o.b. shipping point. What amount should Bell report as inventory at the end of the year?

a. $840,000.

b. $936,000.

c. $880,000.

d. $976,000.

Reference no: EM132567247

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