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  • ACC123 Inventories Problem10 2 Lagurin

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    khryzellia lagurin
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    The document provides inventory amounts for various stages of production and distribution for a company totalling $5,500,000. It lists materials, goods in process, finished goods in factory and various locations finished goods are held like retail stores, consignees, transit and on approval. The correct total inventory amount according to the information provided is $5,500,000.

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    The document provides inventory amounts for various stages of production and distribution for a company totalling $5,500,000. It lists materials, goods in process, finished goods in factory and various locations finished goods are held like retail stores, consignees, transit and on approval. The correct total inventory amount according to the information provided is $5,500,000.

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    19 views1 page

    ACC123 Inventories Problem10 2 Lagurin

    Uploaded by

    khryzellia lagurin
    The document provides inventory amounts for various stages of production and distribution for a company totalling $5,500,000. It lists materials, goods in process, finished goods in factory and various locations finished goods are held like retail stores, consignees, transit and on approval. The correct total inventory amount according to the information provided is $5,500,000.

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    © All Rights Reserved
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    PROBLEM 10-2 (IAA)

    Compute the correct amount of inventory

    MATERIALS 1,400,000
    GOODS IN PROCESS 650,000
    FINISHED GOODS IN FACTORY 2,000,000
    FINISHED GOODS IN COMPANY-OWNED
    RETAIL STORE (750,000/150%) 500,000
    FINISHED GOODS IN THE HANDS OF
    CONSIGNEES (400,000 x 60%) 240,000
    FINISHED GOODS IN TRANSIT 250,000
    FINISHED GOODS OUT ON APPROVAL 100,000
    MATERIALS IN TRANSIT (330,000 + 30,000) 360,000
    CORRECT INVENTORY 5,500,000

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