Business, 16.07.2021 23:00 xmanavongrove55

Concord Corporation took a physical inventory on December 31 and determined that goods costing $225,000 were on hand. Not included in the physical count were $20,400 of goods purchased from Pelzer Corporation, FOB shipping point, and $22,000 of goods sold to Alvarez Company for $31,400, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. Required:
What amount should Stallman report as its December 31 inventory?

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Concord Corporation took a physical inventory on December 31 and determined that goods costing $225,...