As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31, 2014. This count did not take into consideration the following facts. Rogers Consignment store currently has goods worth $35,000 on its sales floor that belong to Railway but are being sold on consignment by Rogers. The selling price of these goods is $50,000. Railway purchased $13,000 of goods that were shipped on December 27, FOB destination, that will be received by Railway on January 3. Determine the correct amount of inventory that Railway should report.
(a) $230,000.
(b) $215,000.
(c) $228,000.
(d) $193,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31, 2014. This ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the primary difference between a static budget and a flexible budget? a. The static budget is constructed using input from only upper level management, while a flexible budget obtains input from all levels of management. b.
Answers (2)
Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today? a.
Answers (2)
The current price in the market for cab rides in your neighborhood is $5.00/mile. if the government imposes a price ceiling of $7.50/mile in this market total surplus in this market will:
Answers (1)
What would happen to the buying power of your investment after one year if your rate of return was 5% and the rate of inflation was 3%? A. The buying power would increase by 5% B. The buying power would increase by 2% C.
Answers (1)
Assume that ABC had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. Issued common stock for cash, $5,000. Provided services to customers on account, $2,000.
Answers (1)
New Questions in Business
Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent annually. It has assets of $5 million with an average maturity of 5 years earning interest rates of 6.0 percent annually.
Answers (1)
Why does unoka consult the oracle? what does the oracle tell him?
Answers (1)
Which job title would be given to someone responsible for supervising production in a manufacturing setting?
Answers (1)
If a management team wishes to boost the company's stock price, then it should consider actions to
Answers (1)
On March 15, Year 1, Kathleen Corp. adopted a plan to accumulate $1,000,000 by September 1, Year 5. Kathleen plans to make 4 equal annual deposits to a fund that will earn interest at 10% compounded annually.
Answers (1)