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Wildhorse Company took a physical inventory on December 31 and determined that goods costing $676,000 were on hand. Not included in the physical count were $9,000 of goods purchased from Sandhill Corporation, f.o.b. shipping point, and $29,000 of goods sold to Ro-Ro Company for $37,000, f.o.b. destination. Both the Sandhill purchase and the Ro-Ro sale were in transit at year-end. What amount should Wildhorse report as its December 31 inventory?

User Anthoni
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Answer:

this is ez

Step-by-step explanation:

answer is. Title transfers at FOB point. Both the 25,000 and the 22,000 should be added to Dec 31 inventory.

User Jahid
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