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Marigold Inc. took a physical inventory at the end of the year and determined that...

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Accounting

Marigold Inc. took a physical inventory at the end of the year and determined that $832000 of goods were on hand. In addition, the following items were not included in the physical count. Marigold determined that $96500 of goods purchased were in transit. The goods were shipped f.o.b. de f. fination and were received by the company three days after the inventory count. The company had also sold $38000 worth of inventory that was shipped f.o.b. destination and had not been received by the buyer as of year-end. What amount should Marigold report as inventory at the end of the year?
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