Business, 26.03.2021 02:30 rostecorralmart

As a result of a thorough physical inventory, Oriole Company determined that it had inventory worth $320300 at December 31, 2018. This count did not take into consideration the following facts: Herschel Consignment currently has goods worth $47200 on its sales floor that belong to Oriole but are being sold on consignment by Herschel. The selling price of these goods is $75300. Oriole purchased $21700 of goods that were shipped on December 27, FOB destination, that will be received by Oriole on January 3. Determine the correct amount of inventory that Oriole should report.

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As a result of a thorough physical inventory, Oriole Company determined that it had inventory worth...