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.

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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

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.

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