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What amount should Everdeen Corp report as total Inventory

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Reference no: EM133122054

Question - Everdeen Corp. had a physical inventory that showed the company's ending inventory with a cost of $525,000 on hand as of December 31, 2022.  The following additional information is available:

On December 29, 2022 inventory costing $35,900 was shipped by Haymitch Co. with the shipping terms F.O.B destination.  The items were received by Everdeen Corp. on January 2, 2023.

Everdeen Corp. sold and shipped $28,000 of inventory (this is the cost not sales price) on December 30, 2022. The shipping terms of these goods are F.O.B destination. The customer received the goods on January 3, 2023.

Required - At December 31, 2022, what amount should Everdeen Corp. report as total Inventory?

Reference no: EM133122054

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