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What amount should Splish report as its December inventory

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Reference no: EM133042045

Question - Splish Company took a physical inventory on December 31 and determined that goods costing $217,700 were on hand. Not included in the physical count were $26,450 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $23,320 of goods sold to Alvarez Company for $29,820, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Splish report as its December 31 inventory?

Reference no: EM133042045

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