Brief Exercises Identify items to be included in taking a physical inventory. BE6.1 (LO 1), C Peete Company identifies the following items for possible inclusion in the taking of a physical inventory. Indicate whether each item should be included or excluded from the inventor taking. a. Goods shipped on consignment by Peete to another company. b. Goods in transit from a supplier shipped FOB destination. c. Goods sold but being held for customer pickup. d. Goods held on consignment from another company. Determine ending inventory amount.
Brief Exercises Identify items to be included in taking a physical inventory. BE6.1 (LO 1), C Peete Company identifies the following items for possible inclusion in the taking of a physical inventory. Indicate whether each item should be included or excluded from the inventor taking. a. Goods shipped on consignment by Peete to another company. b. Goods in transit from a supplier shipped FOB destination. c. Goods sold but being held for customer pickup. d. Goods held on consignment from another company. Determine ending inventory amount.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 40E: Identify items missing in determining cost of goods sold For (a) through (e), identify the items...
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