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Question - At December 31, 2017 Metlock, Inc. inventory records indicated a balance of $644000. Upon further investigation it was determined that this amount included the following:
$115000 in inventory purchases made by Metlock shipped from the seller 12/27/17 terms FOB destination, but not due to be received until January 2nd
$87000 in goods sold by Metlock with terms FOB destination on December 27th. The goods are not expected to reach their destination until January 6th
$5000 of goods received on consignment from Dollywood Company
What is Metlock correct ending inventory balance at December 31, 2017?
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We do not want to lose this quality by expanding through franchises. Rather, we prefer to maintain ownership of all units to ensure continued good service and quality." Evaluate the Fields franchising policy.
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