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Should the following be in Brown’s inventory account at 12/31/10? |
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$80,000 of goods purchased by Brown. Terms were FOB Shipping point and they left the vendor’s warehouse on 1/1/11 |
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$30,000 of goods held on consignment for Lucky’s. |
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$25,000 of fire damaged merchandise. |
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at discounted amount, would be in probably at LCM |
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$45,000 of products shipped to customer of Brown on 12/20/10 FOB Destination. Goods arrived on 1/3/11 |
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$10,000 of product held by Discount Hardware on consignment from Brown |
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