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What is the correct value of the company inventory

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Question - Oriole Co. counted and valued its inventory at year-end, and found $75,700 worth. However, their accounting system showed that there were two purchases that had not yet arrived. One had been shipped FOB destination, for $6,275, and the other had been shipped FOB shipping point, for $5,820. In addition, two sales made on the last day of the year would not have reached the customers. One, for $4,495, was shipped FOB destination, and the other, for $2,785, was shipped FOB shipping point. What is the correct value of the company's inventory?

Reference no: EM133171264

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