herbert51 herbert51

14-03-2024
Business

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QUESTION 2
Assume that the total inventory on hand at the end of the year as determined by taking a physical inventory is $62,000. Of the $62,000, $8,000
has been sold FOB destination and is awaiting pickup by the carrier. What is the cost of inventory reported on the balance sheet?
a. $70,000
Ob. $54,000
Oc. $62,000
Od. $58,000

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