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    daveweb's Avatar
    daveweb Posts: 3, Reputation: 1
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    #1

    Oct 29, 2013, 06:51 PM
    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.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Oct 29, 2013, 07:44 PM
    We do not do homework for you. Show us your work and then we can help.
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
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    #3

    Oct 30, 2013, 12:07 AM
    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
    sincity192's Avatar
    sincity192 Posts: 1, Reputation: 1
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    #4

    Jul 16, 2014, 12:30 PM
    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.
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #5

    Jul 16, 2014, 12:39 PM
    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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