Problem 1: Total Inventory A master carver of wooden birds operates her business out of...
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Accounting
Problem 1:
Total Inventory
A master carver of wooden birds operates her business out of a garage. At the end of the current period. the carver has 17 units (carvings) in her garage. The distributor also has another five units in her truck, ready to deliver per a customer order, terms FOB destination, and another 11 units out on consignment at several small retail stores. How many units does the carver include in the businesss period-end inventory?
Units in ending inventory -
PROBLEM 2:
Inventory Costs
A distributor of artistic iron-based fixtures acquires a piece for $1,000, terms FOB shipping point. Additional costs in obtaining it and offering it for sale include $150 for transportation-in. For computing inventory, what cost is assigned to this artistic piece?
Cost -
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