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  • Oct 29, 2013, 06:51 PM
    daveweb
    accounting answers
    Nancy Tomason owns a small specialty store, named Tomason's Treasures, year-end is June 30. A physical inventory taken June 30 reveals the following.
    Cost of merchandise on the showroom floor and in the warehouse, 36,900.
    Goods held on consignment (consignor is National Manufacturer), 6,400.
    Goods that Tomason's Treasures, as the consignor, has for sale at the location of the Grand avenue Vista, 4,600.
    Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's receiving dock on July 3, 3,800.
    Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5, 3,100.
    Determine the total amount that should be included in Tomason's Treasure's year-end inventory.
  • Oct 29, 2013, 07:44 PM
    ma0641
    We do not do homework for you. Show us your work and then we can help.
  • Oct 30, 2013, 12:07 AM
    rehmanvohra
    Cost of merchandise on the showroom floor and in the warehouse, 36,900.
    - Goods held on consignment (consignor is National Manufacturer), 6,400. (Not owned by business)
    + Goods that Tomason's Treasures, as the consignor, has for sale at the location of the Grand avenue Vista, 4,600.
    Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's receiving dock on July 3, 3,800. No effect as the title has passed to the buyer.
    + Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5, 3,100.Title held by business

    Value of inventory 38200
  • Jul 16, 2014, 12:30 PM
    sincity192
    Nancy Tomason owns a small specialty store, named Tomason's Treasures, whose year-end is June 30. A physical inventory taken on June 30 reveals the following:

    Cost of merchandise on the showroom floor and in the warehouse $38,300
    Goods held on consignment (consignor is National Manufacturer) 6,400
    Goods that Tomason's Treasures, as the consignor, has for sale at the location of the Grand Avenue Vista 4,600
    Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's receiving dock on July 3 3,800
    Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5 3,100

    Determine the total amount that should be included in Tomason's Treasures's year-end inventory.
  • Jul 16, 2014, 12:39 PM
    smoothy
    Do you read anything? We do NOT hand out answers, so you have more free time to do other things, and you have made no attempt to do the work at all, so its impossible to even help you with what you did wrong.

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