[christianjdsgirl]

How to I report this in a corrected inventory form

The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-up on December 31. The shipper picked up the goods on January 1 and delivered them on January 6. The shipping terms were FOB shipping point. The goods had a selling price of $40,000 and a cost of $30,000. The goods were not included in the count because they were sitting on the dock.

Included in the count was $50,000 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Nathan's products, it was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost, “since that is what we paid for them, after all.”

Included in the inventory account was $17,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year.

[CaptainForest]

Make at attempt at least.

We don't bite.

Try it, then we will help you.