Sheridan company took a physical inventory on december 31 and determined that goods costing $222,000 were on hand. not included in the physical count were $35,000 of goods purchased from windsor, inc., fob, shipping point, and $21,000 of goods sold to bonita industries for $32,000, fob destination. both the windsor purchase and the bonita sale were in transit at year-end. what amount should sheridan report as its december 31 inventory?

$278,000

Explanation:

On December 31,

Goods costing = $222,000

Physical count = $35,000

Amount should Sheridan report as its December 31 inventory:

= Inventory in hand as per physical count + Goods purchased from Windsor, Inc. under FOB basis + Cost of goods sold to Bonita Industries under FOB destination

= $222,000 + $35,000 + $21,000

= $278,000

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)

answer; i believe that the correct answer is (personal information and career information; second answer; (b) flexibility,independence and salary potential