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Assume that a physical count of Adidas AG's inventory at yearend determined that inventory on hand had a value of $ Upon further investigation, it was determined that this amount included the following:
An inventory purchase of $ made by Adidas shipped from Amazon on December with terms FOB destination, but not due to be received until January
Goods shipped to a customer with a cost of $ with terms FOB destination on December but not expected to reach their destination until January
Goods shipped to a customer with a cost of $ with terms FOB shipping point on December but not expected to reach their destination until January
Goods held on consignment from Lock Laces Company with a cost $
Compute the amount that should be reported for inventory on Adidas AG's balance sheet at December
Inventory $
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