Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. current attempt in progress cullumber looms inc to

Current Attempt in Progress Cullumber Looms Inc took a physical inventory at the end of...

80.2K

Verified Solution

Question

Accounting

image
Current Attempt in Progress Cullumber Looms Inc took a physical inventory at the end of the year and determined that $931000 of goods were on hand between its warehouse and store locations. In addition, the following items were not considered when counting final inventory: $45000 of goods purchased were in transit. The goods were shipped to.b. shipping point and were received by the company three days after the inventory count. $53500 worth of goods that were sold with an explicit repurchase agreement on the inventory. What amount should Cullumber report as inventory at the end of the year? $1029500$931000$832500$976000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You have received funding to film a 2-hour documentary on some topic within the field of...

Biology
Q

Describe how newly synthesized fatty acids are incorporated into triacylglycerols. (please type the answer, no handwriting, and maybe...

Biology
Q

Which of the following is true regarding the conduction of electrical activity in the heart? Select one: a....

Medical Sciences
Q

Which of the following is a task that only a pharmacist can perform?Answer the telephoneCheck...

Biology
Q

If a 3 6 5 1 and b 6 11 then a b

Geometry
Q

How many different nth roots does a nonzero complex number have The number 81 has...

Basic Math
Q

Select the answer for each question below 70 The solution set of 4x 8y 16...

Calculus
Q

4r 3k 16 4

Algebra
Q

May 2-Sold merchandise to Johnson Supply on credit, invoice no 9501 for $4500 (cost is...

Accounting
Q

Complete Alvin's Music Inc.'s (AMI) 2018 Form 1120 using the information provided below. Neither...

Accounting
Q

A firm is planning to issue two types of 20-year, noncallable bonds to raise a...

Finance
Q

How much will they pay in total premiums if Steven purchases a policy today and...

Accounting