Business, 31.03.2020 18:57 ibin246

Skysong, Inc. took a physical inventory on December 31 and determined that goods costing $235,000 were on hand. Not included in the physical count were $27,800 of goods purchased from Pelzer Corporation, FOB shipping point, and $21,800 of goods sold to Alvarez Company for $30,000, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Skysong report as its December 31 inventory?

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Skysong, Inc. took a physical inventory on December 31 and determined that goods costing $235,000 we...

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